---
schema_version: "secwatch.filing_event.v1"
accession: "0001418819-24-000013"
form_type: "8-K"
ticker: "IRDM"
cik: "0001418819"
company_name: "Iridium Communications Inc."
filed_at: "2024-03-27T23:59:59+00:00"
generated_at: "2026-06-04T07:04:43.641968+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Iridium borrows additional $125M term loan to fund Satelles acquisition

## Summary
- Added $125M term loan to existing $1.5B facility; same terms: SOFR+2.5% with 0.75% floor, maturing 2030.
- Term loan issued at 0.125% discount to face value, compared to 0.25% discount on original tranche.
- Proceeds used to fund acquisition of Satelles, Inc. (merger agreement dated March 2, 2024) and related expenses.

## SEC filing metadata
- accession: 0001418819-24-000013
- form_type: 8-K
- ticker: IRDM
- cik: 0001418819
- company_name: Iridium Communications Inc.
- filed_at: 2024-03-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1418819/000141881924000013/0001418819-24-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1418819/000141881924000013/irdm-20240325.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001418819-24-000013
- JSON: https://secwatch.observer/filing/0001418819-24-000013.json
- Plain text: https://secwatch.observer/filing/0001418819-24-000013.txt

## Key facts
- Debt Financings
  Iridium Communications Inc. incurred term loan of $125 million with Deutsche Bank AG New York Branch at SOFR plus an interest rate margin of 2.5%, with a 0.75% SOFR floor maturing September 20, 2030.
  - Instrument: term loan
  - Principal: $125 million
  - Counterparty: Deutsche Bank AG New York Branch
  - Rate: SOFR plus an interest rate margin of 2.5%, with a 0.75% SOFR floor
  - Maturity: September 20, 2030
  - Event: incurrence
  source text: On March 25, 2024, Iridium Satellite LLC (“Satellite”), the Registrant’s principal operating subsidiary, as the borrower, entered into Amendment No. 1 (the “Amendment”) to its existing Amended and Restated Credit Agreement, dated as of September 20, 2023, with Iridium Holdings LLC (“Holdings”), as guarantor; solely with respect to Section 10.12 thereof, the Registrant; various lenders; and Deutsche Bank AG New York Branch, as Administrative Agent and Collateral Agent; with Deutsche Bank Securities Inc., Barclays Bank PLC, and Wells Fargo Securities, LLC , as Joint Lead Arrangers and Bookrunners (the “Credit Agreement”) . Pursuant to the Amendment, Satellite borrowed an additional $125 million of term loans on the same terms as the existing term loans of $1.5 billion, bearing interest at a per annum rate of SOFR plus an interest rate margin of 2.5%, with a 0.75% SOFR floor and maturing on September 20, 2030.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1418819/000141881924000013/0001418819-24-000013-index.htm
- Material Agreements
  Iridium Communications Inc. amended Amendment No. 1 (the "Amendment") to the Amended and Restated Credit Agreement with various lenders and Deutsche Bank AG New York Branch, as Administrative Agent and Collateral Agent; Deutsche Bank Securities Inc., Barclays Bank PLC, and Wells Fargo Securities, LLC, as Joint Lead Arrangers and Bookrunners valued at $125 million (effective 2024-03-25).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: various lenders and Deutsche Bank AG New York Branch, as Administrative Agent and Collateral Agent; Deutsche Bank Securities Inc., Barclays Bank PLC, and Wells Fargo Securities, LLC, as Joint Lead Arrangers and Bookrunners
  - Value: $125 million
  - Effective: 2024-03-25
  source text: On March 25, 2024, Iridium Satellite LLC (“Satellite”), the Registrant’s principal operating subsidiary, as the borrower, entered into Amendment No. 1 (the “Amendment”) to its existing Amended and Restated Credit Agreement, dated as of September 20, 2023, with Iridium Holdings LLC (“Holdings”), as guarantor; solely with respect to Section 10.12 thereof, the Registrant; various lenders; and Deutsche Bank AG New York Branch, as Administrative Agent and Collateral Agent; with Deutsche Bank Securities Inc., Barclays Bank PLC, and Wells Fargo Securities, LLC , as Joint Lead Arrangers and Bookrunners (the “Credit Agreement”) .
  evidence_url: https://www.sec.gov/Archives/edgar/data/1418819/000141881924000013/0001418819-24-000013-index.htm

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