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MDA Space (MDA) sells C$600 million 6.50% notes to fund BCT deal

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(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

MDA Space Ltd. has priced a private placement of C$600 million aggregate principal amount of 6.50% senior unsecured notes due August 5, 2033. The notes will be issued at C$1,000 per C$1,000 principal amount and the offering is expected to close on or about August 5, 2026, subject to customary closing conditions. Interest will be paid semi-annually in arrears on February 5 and August 5, commencing February 5, 2027. The notes will be senior unsecured obligations ranking pari passu with all existing and future senior unsecured indebtedness, including the Company’s C$250,000,000 7.00% senior unsecured notes due December 23, 2030, and will be guaranteed by certain subsidiaries.

The Company intends to use the net proceeds to fund a portion of the purchase price for its planned acquisition of Blue Canyon Technologies LLC and related acquisition fees and expenses, with that transaction expected to close by the end of 2026 subject to customary conditions. If the acquisition does not close, MDA Space will be required to redeem all outstanding notes at 100% of principal plus accrued and unpaid interest. The offering is led by RBC Capital Markets, BMO Capital Markets and Scotiabank, and is being made to accredited investors in Canada, to qualified institutional buyers in the United States under Rule 144A, and to offshore investors under Regulation S.

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Notes Offering Size C$600 million aggregate principal amount Private placement of senior unsecured notes announced July 23, 2026
Coupon Rate 6.50% per annum Interest rate on the senior unsecured notes due August 5, 2033
Maturity Date August 5, 2033 Scheduled maturity of the new 6.50% senior unsecured notes
Existing Notes C$250,000,000 7.00% senior unsecured notes Outstanding notes due December 23, 2030 ranking pari passu with the new notes
Interest Payment Dates February 5 and August 5 Semi-annual interest payments commencing on February 5, 2027
Acquisition Announcement Date June 19, 2026 Date the Blue Canyon Technologies LLC acquisition was previously announced
Special Mandatory Redemption Price 100% of the principal amount Redemption price for all outstanding notes if the acquisition does not close, plus accrued interest
senior unsecured notes financial
"C$600 million aggregate principal amount of 6.50% senior unsecured notes due August 5, 2033"
Senior unsecured notes are a type of loan a company borrows from investors, promising to pay back with interest. They are called "unsecured" because they aren’t backed by specific assets like buildings or equipment, but "senior" because they are paid back before other debts if the company gets into trouble. Investors see them as a relatively safer way for companies to raise money.
pari passu financial
"ranking pari passu in right of payment with all existing and future senior unsecured indebtedness"
An instruction that different claims, securities, or creditors are treated equally and share rights or payments on the same priority level. For investors, it means their position will be paid or have voting power alongside others in the same class rather than being favored or subordinated—think of several people standing in one bus line who all get on together rather than some cutting ahead. That parity affects expected recovery in reorganizations, dividend order, and relative risk.
accredited investors financial
"offered for sale in each of the provinces of Canada to accredited investors on a private placement basis"
Accredited investors are individuals or entities considered to have enough financial knowledge and resources to understand and handle more complex and risky investments. They are often allowed to participate in private investment opportunities that are not available to the general public, similar to how experienced players might access exclusive clubs or events. This status helps ensure that investors can manage potential risks and rewards appropriately.
Rule 144A regulatory
"offered and sold in the United States only to qualified institutional buyers, pursuant to Rule 144A of the U.S. Securities Act"
Rule 144A is a regulation that makes it easier for companies to sell private bonds to large investors without going through all the usual rules that apply to public sales. It matters because it helps companies raise money more quickly and privately, often attracting big investors looking for special deals.
Regulation S regulatory
"outside the United States in offshore transactions in reliance upon Regulation S under the U.S. Securities Act"
Regulation S is a set of rules that allows companies to sell securities (like shares or bonds) to investors outside the United States without having to follow all U.S. securities laws. It matters because it makes it easier for companies to raise money from international investors while still complying with U.S. regulations.
special mandatory redemption financial
"the possibility of a special mandatory redemption of the Notes by the Company if the Acquisition is not consummated"
A special mandatory redemption is a contractual obligation that forces a company to repay certain debt or preferred shares early when a specific trigger event occurs (for example, a change in tax law, regulatory change, or sale). For investors it matters because it ends the expected income stream and returns principal at a pre-set price, potentially altering returns, tax outcomes and a company’s cash needs — like a lender calling a loan back when rules change.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What debt offering did MDA (MDA) announce on July 23, 2026?
MDA Space announced a private placement of C$600 million aggregate principal amount of 6.50% senior unsecured notes due August 5, 2033. The notes are issued at par and are expected to close on or about August 5, 2026, subject to customary conditions.

What are the main terms of MDA (MDA)'s new senior unsecured notes?
The notes carry a 6.50% annual interest rate, payable semi-annually on February 5 and August 5, starting February 5, 2027, and mature on August 5, 2033. They are senior unsecured obligations guaranteed by certain subsidiaries and rank pari passu with existing senior unsecured debt.

How will MDA (MDA) use the C$600 million raised from the notes offering?
MDA Space intends to use the net proceeds from the C$600 million notes to fund a portion of the purchase price for its Blue Canyon Technologies LLC acquisition and related fees and expenses. The acquisition is expected to close by the end of 2026, subject to customary conditions.

What happens to MDA (MDA)'s notes if the Blue Canyon Technologies acquisition does not close?
If the Blue Canyon Technologies acquisition is not completed, MDA Space will be required to redeem all outstanding notes at 100% of principal, plus accrued and unpaid interest. This special mandatory redemption protects noteholders if the planned transaction is not consummated.

How do the new notes fit within MDA (MDA)'s existing debt structure?
The new C$600 million 6.50% notes will be senior unsecured obligations ranking pari passu with all existing and future senior unsecured indebtedness, including the Company’s C$250,000,000 7.00% senior unsecured notes due December 23, 2030, and will be guaranteed by certain subsidiaries.

Who can purchase MDA (MDA)'s new notes and through which channels?
The notes are offered in Canada to accredited investors on a private placement basis, in the United States to qualified institutional buyers under Rule 144A, and outside the U.S. under Regulation S, through a syndicate led by RBC Capital Markets, BMO Capital Markets and Scotiabank.

 

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

 

For the month of July   2026
Commission File Number 001-43190    

 

MDA SPACE LTD.
(Translation of registrant’s name into English)
 

7500 Financial Drive

Brampton, Ontario, Canada L6Y 6K7

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F    o            Form 40-F    x

 

 

 

 

 

 

DOCUMENTS INCLUDED AS PART OF THIS REPORT

 

Exhibit  
   
99.1 Press release dated July 23, 2026

 

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    MDA Space Ltd.
    (Registrant)
     
Date: July 23, 2026   By: /s/ Guillaume Lavoie
        Name: Guillaume Lavoie
        Title: Chief Financial Officer

 

 

 

 

 

Exhibit 99.1

 

 

NEWS RELEASE

 

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

 

MDA SPACE ANNOUNCES OFFERING OF C$600 MILLION SENIOR UNSECURED NOTES DUE 2033

 

JULY 23, 2026 (TORONTO, ON) – MDA Space Ltd. (“MDA Space” or the “Company”) (TSX:MDA) (NYSE:MDA), a trusted mission partner to the rapidly expanding global space industry, announced today that it has priced a private placement offering (the “Offering”) to sell, pursuant to the Offering, C$600 million aggregate principal amount of 6.50% senior unsecured notes due August 5, 2033 (the “Notes”). The Offering is expected to close on or about August 5, 2026, subject to customary closing conditions.

 

The Notes will be issued at a price of C$1,000 per C$1,000 principal amount of Notes. The Notes will constitute senior unsecured obligations of the Company, ranking pari passu in right of payment with all existing and future senior unsecured indebtedness of the Company (including the 7.00% senior unsecured notes issued by the Company on December 23, 2025 in an aggregate principal amount of C$250,000,000 due December 23, 2030), and will be guaranteed by certain of the Company’s subsidiaries. Interest on the Notes will accrue at a rate of 6.50% per annum, payable semi-annually in arrears on February 5 and August 5 of each year, commencing on February 5, 2027.

 

The Company intends to use the net proceeds from the Offering to fund a portion of the purchase price for the acquisition of Blue Canyon Technologies LLC (“BCT”) (the “Acquisition”), that was previously announced by the Company on June 19, 2026, and acquisition-related fees and expenses. Once completed, the Acquisition is expected to provide MDA Space with a strategic business and manufacturing footprint to capitalize on growing demand in the U.S. government market for defence space missions. The Acquisition is expected to close by the end of 2026, subject to customary closing conditions. In the event the Acquisition does not close, the Company will be required to redeem all of the outstanding Notes at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest.

 

“This successful offering supports the long-term growth objectives underlying our acquisition of BCT, and our steadfast commitment to create shareholder value,” said Guillaume Lavoie, Chief Financial Officer of MDA Space. “We are pleased with the market’s positive response and strong demand to participate in the offering, which reflects continued investor confidence in our ability to execute on our growth strategy while maintaining balance sheet discipline.”

 

The Notes are being offered through a syndicate of underwriters led by RBC Capital Markets, BMO Capital Markets and Scotiabank.

 

The Notes are being offered for sale in each of the provinces of Canada to “accredited investors” on a private placement basis, in reliance upon exemptions from the prospectus requirements under applicable Canadian securities laws. The Notes have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and are being offered and sold in the United States only to qualified institutional buyers, pursuant to Rule 144A of the U.S. Securities Act, and outside the United States in offshore transactions in reliance upon Regulation S under the U.S. Securities Act.

 

 

 

 

 

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any offer or sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful.

 

About MDA Space

 

Building the space between proven and possible, MDA Space (TSX:MDA) (NYSE:MDA) is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 4,000 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission – bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that's been in our DNA since day one. For those who dream big and push boundaries on the ground and in the stars to change the world for the better, we'll take you there. For more information, visit the Company’s filings on SEDAR+ and the Company’s Investor Relations website at www.mda-en.investorroom.com.

 

Forward-Looking Statements

 

This news release contains certain statements that may constitute “forward-looking information” within the meaning of applicable securities laws (“forward-looking statements”). When used in this news release, forward-looking statements often but not always, can be identified by the use of forward-looking words such as, including but not limited to, “may”, “will”, “would”, “should”, “expect”, “believe”, “intend”, "future" and other similar terminology or the negative or inverse of such words or terminology. Forward-looking statements in this news release include, without limitation, statements with respect to the size and terms of the Offering, including the terms of the Notes, the use of proceeds therefrom, the timing and successful completion of the Acquisition, the anticipated benefits and synergies described in connection with the Acquisition, the possibility of a special mandatory redemption of the Notes by the Company if the Acquisition is not consummated, and the timing and successful completion of the Offering. Forward-looking statements are based on certain assumptions and analyses (including the timing and success of the Offering) made by the Company in light of management’s experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to significant known and unknown risks and uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from those anticipated in such forward-looking statements for a variety of reasons, including without limitation the risks and uncertainties detailed under the “Risk Factors” section of the Company’s annual information form dated March 4, 2026. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect and there can be no assurance that actual results will be consistent with the forward-looking statements. There are a number of additional risks and uncertainties affecting or that could affect MDA Space, which could cause actual results and developments to differ materially from those described in, expressed or implied by these forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements or information. These forward-looking statements speak only as of the date of this news release. Except as required by law, MDA Space is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

 

 

 

 

 

MEDIA CONTACT

Amy MacLeod

Vice President, Corporate Communications

613-796-6937

amy.macleod@mda.space

 

INVESTOR CONTACT

Jim Floros

Vice President, Investor Relations

289-914-0209

jim.floros@mda.space

 

SOCIAL MEDIA

LinkedIn: linkedin.com/company/mdaspace
X: twitter.com/MDA_space
Facebook: facebook.com/MDAspace
YouTube: youtube.com/c/mdaspace
Instagram: instagram.com/MDA_space

 

 

 

Source: View Original Filing on SEC EDGAR

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