Orbcomm to repay its $150 million credit facility borrowings via notes

By Wendy Van Sickle

Columbus, Ohio, March 30 – Orbcomm Inc. plans to repay its $150 million of borrowings outstanding under its $160 million of secured credit facilities with some proceeds of an offering of $250 million of senior secured notes due 2024.

Any additional proceeds will be used for general corporate purposes, including potential future acquisitions, the company said in a press release.

The internet technology company is based in Rochelle Park, N.J.

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