ICEYE, the operator of the world’s largest commercial constellation of radar imaging satellites, has secured a €300 million revolving credit facility (RCF).
For three years, the facility will help the company back customer contracts with guarantees, support international growth and strengthen liquidity.
ICEYE will be supported by a group of seven banks from the Nordic region and global markets. According to ICEYE's press release, the different strengths and geographic reach of the banks match the company's international growth plans. Citi and Danske Bank coordinated the arrangement of the facility.
“The RCF origination reflects continued confidence in ICEYE’s business and demonstrates our ability to access diverse sources of capital to support rapid global growth. It also enhances our financial flexibility as demand for sovereign intelligence capabilities continues to grow exponentially,” says John Lauria, Global Head of Treasury at ICEYE in ICEYE’s press release.
By utilising SAR (synthetic aperture radar) technology, Espoo-based ICEYE provides continuous monitoring capabilities to identify and respond to changes anywhere on Earth. This technology serves a variety of sectors, including defence and sovereign intelligence, insurance and disaster response, and environmental and maritime monitoring.
Image: ICEYE
