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MDA completes acquisition of Space Systems Loral
by Staff Writers
Richmond, Canada (SPX) Nov 05, 2012


illustration only

MacDonald, Dettwiler and Associates Ltd has completed and formally closed the previously announced acquisition of Space Systems/Loral, Inc. (SS/L).

The combination of MDA and SS/L creates a leading global communications and information company.

The acquisition is being financed by a combination of cash on hand, a three-year promissory note of US$101,000,000, a new twelve-year senior secured note of US$250,000,000 with two major U.S. financial institutions, an existing senior secured note of US$100,000,000, and approximately $600,000,000 of variable rate term and revolving loans under a new four-year US$850,000,000 senior secured syndicated credit facility.

Bank of America Merrill Lynch acted as lead financial advisor to MDA in connection with the transaction. RBC Capital Markets and BMO Capital Markets also provided financial advice to MDA related to this transaction.

Loral Space and Communications Inc., the parent company of SS/L as at September 30, 2012, expects to issue its third quarter U.S. GAAP financial results on or about November 8, 2012.

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