Orbcomm announces $250 million seven-year secured notes offering

By Paul A. Harris

Portland, Ore., March 30 – Orbcomm Inc. announced in a Thursday press release that it plans to issue $250 million of senior secured notes due 2024 in a Rule 144A and Regulation S transaction.

The Rochelle Park, N.J.-based internet technology company plans to use the proceeds to repay $150 million under its $160 million secured credit facilities, with any remaining proceeds to be used for general corporate purposes, including potential future acquisitions.

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