Iridium Satellite LLC completed a $210 million debt offering, the company announced Aug. 6. Iridium will use net proceeds of the credit facilities to repay the company’s existing credit facilities, provide cash collateral for a letter of credit, return capital to equity investors and for general corporate purposes.

“I am pleased with the reception Iridium has received from the financial community,” Eric Morrison, Iridium’s CFO, said in a statement. “We look forward to building relationships with the first rate group of lenders that participated in this offering.”