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Iridium Secures Credit Facility, Reports Sub Growth
Iridium Satellite LLC today said the company recently closed an agreement for a $65.5 million credit facility with Bank of America [BAC], which will be used for general corporate purposes. The company also said its subscriber base grew 29 percent for the nine months ending Sept. 30, compared to the same nine-month period one year ago. Iridium did not disclose specific subscriber numbers.
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