DigitalGlobe Prices Private Offering Of $600 Mln Of 5.25% Senior Notes Due 2021
By RTT News, January 25, 2013, 03:39:00 PM EDT
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(RTTNews.com) - DigitalGlobe Inc. ( DGI ), a provider of high-resolution earth imagery solutions, announced that it priced its private offering of $600 million aggregate principal amount of 5.25% senior unsecured notes due 2021 at an issue price of par. The size of the private offering was increased from the previously announced amount of $500 million. The closing of the private offering is expected to occur on January 31, 2013, subject to certain closing conditions.
The company stated that it intends to use the proceeds from the offering of the Notes, together with borrowings under its new credit facilities and cash on hand, to (i) pay the cash consideration under the merger agreement in respect of DigitalGlobe's proposed combination with GeoEye, Inc.; (ii) refinance indebtedness outstanding under DigitalGlobe's existing credit facility; (iii) fund the discharge and redemption of all of GeoEye's outstanding 9.625% Senior Secured Notes due 2015 and 8.625% Senior Secured Notes due 2016; and (iv) pay fees and expenses related to the aforementioned transactions. The foregoing does not constitute a notice of redemption for any of GeoEye's outstanding notes.
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