GeoEye Acquires $249.5 Million in Debt Financing

[Satellite TODAY 09-30-09] GeoEye has received $249.5 million in funding as a result of its 2012 senior note sale offered Sept. 21, the company announced.
    The funding is a portion of the total capital investment that GeoEye has been seeking in its September financing push. The initial offering of $350 million was offered at 97.2 percent of its face value, with an effective yield of 10.25 percent. The offer was then raised to $400 million Sept. 24. 
    While the company has acquired 99.8 percent of the funding needed to tackle its 2012 debt, GeoEye still needs to find investors to cover the costs of constructing the GeoEye-2 high-resolution satellite, scheduled to launch in 2012, which accounts for the remaining portion of the $400 million debt offer.

Related Stories-

GeoEye Ups Fundraising Offer to $400 Million   Satellite Today   September 25, 2009
[Satellite TODAY 09-25-09] GeoEye Inc. has upped its 9.6 interest debt offering to $400 million, the imagery company announced Sept. 24. The initial offering of $350 million was announced Sept. 21.

GeoEye Attempts to Raise $350 Million to Build GeoEye-2, Consolidate Debt   Satellite Today   September 21, 2009
[Satellite TODAY 09-21-09] GeoEye is attempting to raise $350 million through a sale of senior secured notes due 2015, the company announced Sept. 18. 

GeoEye Wins $50 Million NGA Contract Extension   Satellite Today   September 11, 2009
[Satellite TODAY 09-11-09] GeoEye Inc. signed a contract worth $50 million to extend its service level agreement with the U.S. National Geospatial-Intelligence Agency (NGA) through Mar. 31, 2010, the imagery company announced Sept. 10.