Mercury Systems US$400m revolving credit facility (2017 refinancing)
Refinance the 2016 term loan, with the US$192.5m balance repaid from cash
Key terms
- Borrower or issuer
- Mercury Systems
- Date
- 27 Jun 2017
- Type
- Bank facility
- Amount
- US$400m
- Pricing
- LIBOR + 1.375% initially (leverage grid)
- Maturity
- 2022
Recorded terms
- Structure
- Five-year revolving credit facility under Amendment No. 1 to the May 2016 credit agreement
- Lenders and arrangers
- Bank of America, N.A., administrative agent; syndicate of commercial banks
- Country
- United States
Parties
- Mercury Systems borrower or issuer
- Lenders: Bank of America
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 28 Feb 2017 | Hensoldt €920m term loan (2017-2018) | Bank facility | €920m |
| 14 Feb 2018 | Leonardo €1.8bn revolving credit facility (2018) | Bank facility | €1.8bn |
| 30 Sep 2016 | Textron US$1.0bn revolving credit facility (2016) | Bank facility | US$1bn |
| 16 Aug 2016 | Leidos US$3.28bn secured credit facilities for the Lockheed Martin IS&GS combination | Bank facility | US$3.28bn |
| 24 May 2018 | BWX Technologies US$800m secured credit facility (2018) | Bank facility | US$800m |
More from Mercury Systems
| Date | Financing | Type | Amount |
|---|---|---|---|
| 4 Nov 2025 | Mercury Systems US$850m revolving credit facility (2025) | Bank facility | US$850m |
| 28 Feb 2022 | Mercury Systems US$1.1bn revolving credit facility (upsized) | Bank facility | US$1.1bn |
| 1 Oct 2018 | Mercury Systems US$750m revolving credit facility (upsized) | Bank facility | US$750m |
| 2 May 2016 | Mercury Systems US$300m credit facility for the Microsemi carve-out | Acquisition finance | US$300m |
M&A and investment involving Mercury Systems
| Date | Deal | Type | Value |
|---|---|---|---|
| 30 Dec 2020 | Mercury Systems acquisition of Physical Optics Corporation | M&A | US$310m |
| 23 May 2019 | Mercury Systems US$414m share offering | Equity raise | US$414m |
| 1 Feb 2018 | Mercury Systems acquisition of Themis Computer | M&A | US$180m |
| 27 Jan 2017 | Mercury Systems US$198m share offering | Equity raise | US$198m |
| 8 Apr 2016 | Mercury Systems US$87m share offering | Equity raise | US$86.6m |
Sources
- Mercury Systems Form 8-K: Amendment No. 1 to credit agreement sec.gov · 27 Jun 2017
About this record
Record DEF-2017-0016, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
A revolving or term facility is a relationship loan from a bank group, priced at a margin over a reference rate, with financial covenants and an agent.
