Vedder Shareholder John Tawadrous advised the Export-Import Bank of the United States (EXIM) in connection with a $95 million increase to EXIM's financing for CesiumAstro under EXIM's "Make More in America" initiative, bringing EXIM's total financing to the company to $280 million. The transaction also included an increase to CesiumAstro's revolving credit facility provided by J.P. Morgan, bringing the company's total senior debt financing package to $300 million.
The EXIM financing will support the continued expansion of manufacturing capacity at CesiumAstro's global headquarters and advanced manufacturing facility in Austin, Texas and the broader investment supported by the financing package is expected to create more than 500 jobs.
EXIM's Make More in America initiative provides financing to support domestic manufacturing growth and investment in strategically important industries.
CesiumAstro develops advanced communications and connectivity technologies for commercial, government and national security space applications.
The Vedder deal team was led by Shareholder John Tawadrous and supported by Associate Sandy Chen.
Read more about the deal here.
Learn more about our Finance & Transactions practice here.
