Loan & DebtMay 21, 2026, 07:37 AM
HawkEye 360 Secures New $125M Revolving Credit Facility
AI Summary
HawkEye 360, Inc. entered into a new senior secured revolving credit facility for $125.0 million with Bank of America, N.A., maturing on May 19, 2031. This new facility replaces existing debt, as the company fully repaid and terminated its Senior Term Loan with Silicon Valley Bank and its Mezzanine Loan with First-Citizens Bank & Trust Company. The new facility includes variable interest rates based on the company's Total Net Leverage Ratio and requires compliance with financial covenants, including a maximum Total Net Leverage Ratio and a minimum Interest Coverage Ratio.
Key Highlights
- HawkEye 360 secured a new $125.0 million senior secured revolving credit facility.
- The Revolving Credit Facility matures on May 19, 2031.
- Interest rates are variable: Term SOFR + 2.25%-3.00% or alternative base rate + 1.25%-2.00%.
- A commitment fee ranging from 0.250% to 0.500% per annum applies to unused commitments.
- Financial covenants include a maximum Total Net Leverage Ratio of 3.50:1.00, stepping down to 3.00:1.00.
- A minimum Interest Coverage Ratio of not less than 3.00:1.00 is required.
- The company repaid and terminated its Senior Term Loan with Silicon Valley Bank and Mezzanine Loan with First-Citizens Bank & Trust Company.
Price Impact
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