---
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"
generated_at: "2026-06-10T11:54:36.221324+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Iridium enters $1.5B amended credit facility; $100M revolver added

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-238552
- JSON: https://secwatch.observer/filing/0001193125-23-238552.json
- Plain text: https://secwatch.observer/filing/0001193125-23-238552.txt

## Key facts
- Debt Financings
  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.
  - Instrument: term loan
  - Principal: $1,500 million
  - Counterparty: Deutsche Bank AG New York Branch
  - Rate: Term SOFR plus an interest rate margin of 2.50%, with a 0.75% SOFR floor
  - Maturity: seven-year term loan facility
  - Event: incurrence
  source text: Pursuant to the Amended and Restated Credit Agreement, Satellite borrowed $1,500 million as a seven-year term loan facility
  evidence_url: https://www.sec.gov/Archives/edgar/data/1418819/000119312523238552/0001193125-23-238552-index.htm
- Debt Financings
  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.
  - Instrument: revolving credit
  - Principal: $100 million, five-year revolving loan facility
  - Counterparty: Deutsche Bank AG New York Branch
  - Rate: Term SOFR plus an interest rate margin of 2.50%, with a 0.0% SOFR floor, no orig
  - Maturity: five-year
  - Event: incurrence
  source text: The Amended and Restated Credit Agreement also provides for a $100 million, five-year revolving loan facility
  evidence_url: https://www.sec.gov/Archives/edgar/data/1418819/000119312523238552/0001193125-23-238552-index.htm
- Material Agreements
  Iridium Communications Inc. amended Amendment and Restatement Agreement with Deutsche Bank AG New York Branch valued at $1,500 million (effective 2023-09-20).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Deutsche Bank AG New York Branch
  - Value: $1,500 million
  - Effective: 2023-09-20
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1418819/000119312523238552/0001193125-23-238552-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.