Maxar repays borrowings under its credit facility with note proceeds

By Sarah Lizee

Olympia, Wash., Dec. 11 – Maxar Technologies Inc. repaid all of the borrowings that were outstanding as of Sept. 30 under its revolving credit facility and term loans A-1 and A-2 under its syndicated credit facility using proceeds from 9¾% senior secured notes due 2023 issued by subsidiary SSL Robotics LLC, according to a press release.

Proceeds from the notes were released from escrow, and Maxar assumed SSL’s obligations as issuer of the notes.

Proceeds from the company’s closing of its Palo Alto real estate sale and leaseback transactions were also used for the paydowns.

In addition, an amendment to the syndicated credit facility became effective upon the notes’ release from escrow.

Maxar is a Westminster, Colo.-based space technology company.

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