DigitalGlobe to launch $600 million credit facility on Friday

By Sara Rosenberg

New York, Sept. 21 - DigitalGlobe is scheduled to hold a bank meeting on Friday morning to launch a proposed $600 million senior secured credit facility, according to a market source.

Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC are the lead banks on the deal, with Morgan Stanley the left lead.

The facility consists of a $100 million revolver and a $500 million term loan B, the source said.

Proceeds will be used to fund a tender offer for the company's $355 million of 10½% senior secured notes due 2014 and for general corporate purposes, including stock repurchases and acquisitions.

The tender offer is set to expire on Oct. 19 and is subject to completion of the new debt financing and a majority of notes being tendered.

DigitalGlobe is a Longmont, Colo.-based content provider of high-resolution earth imagery products and services.

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