Maxar wraps sale/leaseback of Palo Alto facility
December 12, 2019
By Chris Forrester
Maxar Technologies has wrapped the sale and leaseback of the company’s satellite manufacturing facility at Palo Alto and home of the well-regarded Space Systems/Loral factory (SS/L).
Maxar earned $291 million (€261.7m) from the deal, before costs and legal fees.
Maxar said it will use the proceeds from the real estate sale and the senior secured notes offering (upon release from escrow) to repay all of the borrowings that were outstanding as of September 30th 2019, under the Company’s revolving credit facility, and other term loans.
The operations trading as DigitalGlobe, SS/L and Radiant Solutions were unified under the Maxar brand in February; MDA continues to operate as an independent business unit within the Maxar organisation.