Maxar Technologies Inc. announced the closing of its sale of $500 million aggregate principal amount of 7.750% senior secured notes due 2027. The Notes were offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The Notes are senior, first-priority secured obligations of the Company initially guaranteed on a senior, first-priority secured basis by the Company's subsidiaries that are guarantors under its syndicated credit facility and its 7.54% Senior Secured Notes due 2027.

Substantially concurrently with the issuance of the Notes, the Company amended and restated its existing syndicated credit facility, among the Company, certain subsidiary guarantors and the lenders from time to time party thereto to, among other things refinance or repay all outstanding term loans and replace revolving commitments, amend certain terms and covenants, extend the maturity date for the revolving facility to 2027, provided that if the Notes are not repaid in full by the date that is 91 days prior to the maturity date of the Notes, the maturity date for the revolving facility will be the Springing Maturity Date, extend the maturity date of the term loan to 2029, provided that if the Notes are not repaid in full by the Springing Maturity Date, the maturity date for the term loan will be the maturity date of the Notes, and increase the total amount of term loans outstanding to $1,500 million. Separately, the Company settled the previously announced redemption of the outstanding principal amount of its 9.75 Senior Secured Notes due 2023, from the net proceeds of the Notes offering, along with proceeds from borrowings under its amended and restated syndicated credit facility and cash on hand. As of March 31, 2022, $500 million of the 2023 Notes remained outstanding.

The 2023 Notes were repurchased at a price of 107.313% of the principal amount thereof, plus accrued but unpaid interest to the date of redemption. The Notes and the guarantees have not been, and will not be registered under the Securities Act of 1933, or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.