Canada-headquartered aerospace business MDA Space Ltd. (MDA.TO) on Thursday announced a private placement of C$250 million, 7 percent senior unsecured notes due 2030.
The Notes will be issued at a price of C$1,000 per C$1,000 principal amount of Notes, the company said in a statement.
The Notes would be ranking pari passu in right of payment with all existing and future senior unsecured indebtedness of the company, and would be guaranteed by certain of the company's subsidiaries.
The offering is expected to close on or about December 23.
The company intends to use the net proceeds of the offering to refinance existing outstanding indebtedness under the Credit Agreement.
The notes are being offered through a syndicate of underwriters led by RBC Capital Markets, BMO Capital Markets and Scotiabank.
The company also announced that its subsidiary, Neptune Operations Ltd. entered into a second Amended and Restated Credit Agreement dated November 25, 2025.
The Credit Agreement, among other things permits the Offering and also provides for a C$150 million accordion feature at the sole discretion of the lenders, potentially increasing the aggregate credit facilities to C$850 million if exercised by the Borrower in the future. It also extends the maturity date therein to November 25, 2030, subject to an accelerated maturity provision that could be triggered if the Notes aren't refinanced at least six months prior to November 25, 2030.
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