By Paul A. Harris
St. Louis, June 23 - Orbimage Holdings Inc. priced a $250 million issue of seven-year senior secured floating-rate notes (Caa2/CCC+) at 98.00 on Thursday, according to an informed source. The notes will pay a coupon that floats at Libor plus 950 basis points.
Deutsche Bank Securities ran the books for the Rule 144A issue.
Proceeds will be used to fund the acquisition of the Orbview-5 imaging satellite and to repay debt.
The issuer is a Dulles, Va.-based global provider of earth imagery products and services.
Issuer: | Orbimage Holdings Inc.
|
Amount: | $250 million
|
Maturity: | July 1, 2012
|
Security description: | Senior secured floating-rate notes
|
Bookrunner: | Deutsche Bank Securities
|
Coupon: | Libor plus 950 basis points
|
Price: | 98.00
|
Call features: | Callable after July 1, 2008 at 104
|
Trade date: | June 23
|
Settlement date: | June 29
|
Ratings: | Moody's: Caa2
|
| Standard & Poor's: CCC+
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.