IRIDIUM COMMUNICATIONS INC.

(IRDM)
  Report
Delayed Nasdaq  -  05/20 04:00:01 pm EDT
35.85 USD   +0.08%
05/19IRIDIUM COMMUNICATIONS INC. : Submission of Matters to a Vote of Security Holders (form 8-K)
AQ
05/18Iridium Names Kay Sears to Board of Directors
PR
05/18Iridium Communications Inc. Names Kay Sears to Board of Directors
CI
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

IRIDIUM COMMUNICATIONS INC. : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (form 8-K)

07/29/2021 | 07:04am EDT

Item 1.01. Entry into a Material Definitive Agreement.

On July 28, 2021, Iridium Satellite LLC ("Satellite"), the Registrant's principal operating subsidiary, as the borrower, entered into Amendment No. 3 (the "Amendment") to its existing Credit Agreement, dated as of November 4, 2019, with Iridium Holdings LLC ("Holdings"), as guarantor; solely with respect to Section 10.12 thereof, the Registrant; various lenders; and Deutsche Bank AG New York Branch, as Administrative Agent and Collateral Agent; with Deutsche Bank Securities Inc. as Lead Arranger and Bookrunner (as previously amended on February 7, 2020 and January 20, 2021, and as further amended, restated, amended and restated, supplemented or otherwise modified from time to time, the "Credit Agreement").

Pursuant to the Amendment, the interest rate, which was previously a per annum rate of LIBOR plus a margin of 2.75%, with a 1.0% LIBOR floor, was reduced to a per annum rate of LIBOR plus a margin of 2.50%, with a 0.75% LIBOR floor. The borrowings under the Credit Agreement, as amended by the Amendment, were issued at a discount of 0.25% to face value. All other material terms of the Credit Agreement remain the same.

The foregoing description of the material terms of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit 10.1 to this report and is incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an-Off-Balance Sheet Arrangement of Registrant.

The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.


(d) Exhibits.



Exhibit
Number      Description

10.1†         Amendment No. 3 to Credit Agreement dated November 4, 2019, among
            Iridium Holdings LLC, Iridium Communications Inc., Iridium Satellite
            LLC, Various Lenders, and Deutsche Bank AG New York Branch, as
            Administrative Agent and Collateral Agent, dated as of July 28, 2021.


104         Cover Page Interactive Data File (embedded within the Inline XBRL
            document).*



† Exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K and

will be furnished on a supplemental basis to the Securities and Exchange

Commission upon request.

* Submitted electronically with this Report in accordance with the provisions of

Regulation S-T.

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

All news about IRIDIUM COMMUNICATIONS INC.
05/19IRIDIUM COMMUNICATIONS INC. : Submission of Matters to a Vote of Security Holders (form 8-..
AQ
05/18Iridium Names Kay Sears to Board of Directors
PR
05/18Iridium Communications Inc. Names Kay Sears to Board of Directors
CI
04/19Iridium Communications Swings to Q1 Profit, Reiterates Service Revenue Outlook -- Share..
MT
04/19TRANSCRIPT : Iridium Communications Inc., Q1 2022 Earnings Call, Apr 19, 2022
CI
04/19Iridium Communications Swings to Q1 Profit as Revenue Rises, Reiterates FY2022 Outlook
MT
04/19IRIDIUM COMMUNICATIONS : ANNOUNCES FIRST-QUARTER 2022 RESULTS - Form 8-K
PU
04/19IRIDIUM : Q1 Earnings Snapshot
AQ
04/19Earnings Flash (IRDM) IRIDIUM COMMUNICATIONS Posts Q1 Revenue $168.2M, vs. Street Est o..
MT
04/19IRIDIUM COMMUNICATIONS INC. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIO..
AQ
More news
Analyst Recommendations on IRIDIUM COMMUNICATIONS INC.
More recommendations