Iridium Communications Inc.

24/07/2024 | Press release | Distributed by Public on 24/07/2024 13:02

Regulation FD Disclosure Form 8 K

Item 7.01. Regulation FD Disclosure.
On July 24, 2024, Iridium Communications Inc. (the "Company") announced the launch of a $200 million incremental term loan to be marketed on the same terms as the $1.62 billion of term loans under its existing Amended and Restated Credit Agreement, dated as of September 20, 2023, with Iridium Satellite LLC, as borrower; Iridium Holdings LLC, as guarantor; solely with respect to Section 10.12 thereof, the Company; various lenders; and Deutsche Bank AG New York Branch, as Administrative Agent and Collateral Agent; with Deutsche Bank Securities Inc., Barclays Bank PLC, Royal Bank of Canada, and Wells Fargo Securities, LLC, as Joint Lead Arrangers and Bookrunners. The Company intends to use the proceeds of the incremental term loan to accelerate the pace of share repurchases under its existing share repurchase program and for other general corporate purposes.