Iridium Announces Closing of $1.45 Billion Refinancing

MCLEAN, Va., Nov. 4, 2019 (Iridium PR) — Iridium Communications Inc. (Nasdaq: IRDM) today announced the closing of a $1.45 billion, seven-year term loan that sets the stage for the company to complete its financial transformation. The new credit agreement formally retires Iridium’s previous credit facility initiated in 2010 and guaranteed by BPI France (formerly COFACE), which enabled Iridium to finance the Iridium® NEXT program.  An additional $100 million, five-year revolving loan facility is also included in the new agreement.

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