{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-238552","form_type":"8-K","ticker":"IRDM","cik":"0001418819","company_name":"Iridium Communications Inc.","filed_at":"2023-09-20T23:59:59+00:00","discovered_at":"2026-05-14T18:03:33.866625+00:00","generated_at":"2026-06-10T11:54:36.221324+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Iridium enters $1.5B amended credit facility; $100M revolver added","bullets":["Borrowed $1.5 billion term loan (7-yr) to refinance $1.496B of existing debt and pay costs.","New $100 million 5-year revolving loan facility; interest at Term SOFR + 2.50% (0.75% floor for term loans).","No financial maintenance covenants on term loan; revolver requires leverage ratio ≤6.25x if drawn >35%.","Commitment fee of 0.50% on undrawn revolver; drops to 0.375% if net leverage below 3.5x.","Guarantors include Holdings, Carrier Holdings, Carrier Services, Constellation, Government Services; secured by substantially all assets."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-238552","json":"https://secwatch.observer/filing/0001193125-23-238552.json","markdown":"https://secwatch.observer/filing/0001193125-23-238552.md","text":"https://secwatch.observer/filing/0001193125-23-238552.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1418819/000119312523238552/0001193125-23-238552-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1418819/000119312523238552/d519511d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T11:54:36.221324+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"311c685f124e1c485b77c88ece90ebb3aec44472","claim":"Iridium Communications Inc. incurred term loan of $1,500 million with Deutsche Bank AG New York Branch at Term SOFR plus an interest rate margin of 2.50%, with a 0.75% SOFR floor maturing seven-year term loan facility.","evidence_excerpt":"Pursuant to the Amended and Restated Credit Agreement, Satellite borrowed $1,500 million as a seven-year term loan facility","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1418819/000119312523238552/0001193125-23-238552-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$1,500 million"},{"label":"Counterparty","value":"Deutsche Bank AG New York Branch"},{"label":"Rate","value":"Term SOFR plus an interest rate margin of 2.50%, with a 0.75% SOFR floor"},{"label":"Maturity","value":"seven-year term loan facility"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"bd6bdee22a4e4ec5304c23cb91e9254419481190","claim":"Iridium Communications Inc. incurred revolving credit of $100 million, five-year revolving loan facility with Deutsche Bank AG New York Branch at Term SOFR plus an interest rate margin of 2.50%, with a 0.0% SOFR floor, no orig maturing five-year.","evidence_excerpt":"The Amended and Restated Credit Agreement also provides for a $100 million, five-year revolving loan facility","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1418819/000119312523238552/0001193125-23-238552-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$100 million, five-year revolving loan facility"},{"label":"Counterparty","value":"Deutsche Bank AG New York Branch"},{"label":"Rate","value":"Term SOFR plus an interest rate margin of 2.50%, with a 0.0% SOFR floor, no orig"},{"label":"Maturity","value":"five-year"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"0d963d26b1a8d0e6491c4f5fc4fd4b618d567841","claim":"Iridium Communications Inc. amended Amendment and Restatement Agreement with Deutsche Bank AG New York Branch valued at $1,500 million (effective 2023-09-20).","evidence_excerpt":"On September 20, 2023, Iridium Satellite LLC (“Satellite”), the Registrant’s principal operating subsidiary, as the borrower, entered into Amendment and Restatement Agreement (the “Amendment and Restatement”) to amend and restate its existing Credit Agreement, dated as of November 4, 2019","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1418819/000119312523238552/0001193125-23-238552-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Deutsche Bank AG New York Branch"},{"label":"Value","value":"$1,500 million"},{"label":"Effective","value":"2023-09-20"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}