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DigitalGlobe begins tender offer, consent solicitation for 5¼% notes
By Angela McDaniels
Tacoma, Wash., Dec. 6 – DigitalGlobe, Inc. began a tender offer and consent solicitation for its $600 million of 5¼% senior notes due 2021, according to a company news release.
The tender offer will expire at 11:59 p.m. ET on Jan. 4.
The company is offering $1,030.92 per $1,000 principal amount of notes. This includes a consent payment of $30.00 per $1,000 principal amount of notes tendered by 5 p.m. ET on Dec. 19, the consent payment deadline.
The company will also pay accrued interest up to but excluding the settlement date, which is expected to be Dec. 22 for notes tendered by the consent payment deadline and Jan. 5 for notes tendered after that time but prior to the offer expiration.
DigitalGlobe is soliciting consents to amendments to the indenture governing the notes that would eliminate most of the covenants and some events of default. Holders who tender must consent to the amendments.
Consents are needed from the holders of a majority of the outstanding notes.
The tender offer and the consent solicitation have a financing condition.
The dealer manager is Barclays (800 438-3242 or 212 528-7581). The information agent is Global Bondholder Services Corp. (866 470-3800 or 212 430-3774).
DigitalGlobe is a Westminster, Colo.-based provider of Earth observation and geospatial solutions.
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