TerreStar Networks Inc., a majority-owned subsidiary of Motient Corp., closed on the sale of $500 million in aggregate principal amount of its 15 percent senior secured notes due 2014, TerreStar reported Feb. 15.
TerreStar plans to use $72 million of the proceeds to repay debt held by Motient and the remainder for working capital and general corporate purposes, including the buildout of its integrated satellite and terrestrial network.
