Monday January 28, 2013 0 commentsLONGMONT - DigitalGlobe Inc. (NYSE: DGI), a leading global provider of high-resolution Earth imagery, announced it has increased its private offering senior unsecured notes due in 2021 from $500 million to $600 million.
The company said closing of the private offering is expected to occur on Jan. 31 subject to closing conditions.
DigitalGlobe will use the proceeds from the 5.25 percent note offering - in combination with borrowings under its new credit facilities and cash on hand - to pay the cash consideration under the merger agreement with GeoEye Inc.; refinance debt under DigitalGlobe's existing credit facility; fund the discharge and redemption of GeoEye senior secured noted due in 2015 and 2016; and pay fees related to the transactions.
The company said the notes will not be registered under the Securities Act of 1933 or any state securities law and may not be offered or sold in the U.S. absent registration or an applicable exemption from registration under the Securities Act and applicable state securities laws.
The notes will be offered in the U.S. only to qualified institutional buyers under Rule 144A of the Securities Act and outside the U.S. under Regulation 5 of the Securities Act, DigitalGlobe said.
For more information, visit www.digitalglobe.com.