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GeoEye Ups Fundraising Offer to $400 Million

By | 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 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.

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