MDA Space Ltd. announced that it has successfully closed its previously announced private placement offering of CAD 250 million aggregate principal amount of 7.00% senior unsecured notes due 2030. The Notes were offered through a syndicate of underwriters led by RBC Capital Markets, BMO Capital Markets and Scotiabank. The net proceeds of the Offering were used to refinance existing outstanding indebtedness under the Company's credit facility.
The Notes were offered for sale in each of the provinces of Canada to "accredited investors" on a private placement basis, in reliance upon exemptions from the prospectus requirements under applicable Canadian securities laws. The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and were offered in the United States only to qualified institutional buyers, pursuant to Rule 144A of the U.S. Securities Act, and outside the United States in offshore transactions in reliance upon Regulation S under the U.S. Securities Act.
