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ORBCOMM commences $250M debt offering
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ORBCOMM Inc. started a $250 million offering of senior secured notes due 2024.
The notes will be fully and unconditionally guaranteed by certain of ORBCOMM's domestic subsidiaries, the company said March 30.
The company plans to use the net proceeds to repay the $150 million outstanding loans under its $160 million secured credit facilities. Any remaining proceeds will be used for general corporate purposes, including potential future acquisitions.