GeoEye Ups Fundraising Offer to $400 Million

[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 said it would sell the latest offering at 97.2 percent of its face value, with an effective yield of 10.25 percent.
    The imagery company said the proceeds of the offering will be used to purchase all of its outstanding $250 million in floating rate senior secured notes due 2012 and for general corporate purposes, which may include funding a portion of the costs of constructing the GeoEye-2 high-resolution satellite, scheduled to launch in 2012.
    The offering is expected to close Oct. 9.

Related Stories-

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.

Euroconsult: Data, Earth Observation Markets Will Exceed $1 Billion in 2009   Satellite Today   September 4, 2009
[Satellite TODAY 09-04-09] Commercial data and satellite-based Earth observation sales will top $1 billion in 2009, with figures nearly quadrupling by 2018, according to a Euroconsult study released Sept. 3.

GeoEye Downplays Satellite Imagery Glitch in SEC Filing   Satellite Today   June 5, 2009
[Satellite Today 06-05-09] GeoEye projected that an issue with its GeoEye-1 satellite, which occurred in May causing portions of its imagery to lack color when collected in a particular operating mode, will not have serious impact on revenues, the…