GeoEye Offers To Buy Back Up To $250M In Notes

Law360, New York (September 15, 2009, 6:34 PM EDT) -- In an effort to lift restrictions on a financing agreement, satellite imagery firm GeoEye Inc. plans to buy back up to $250 million in debt from noteholders, reportedly to move forward on an investment in its newest satellite project.

GeoEye, based in Dulles, Va., has tendered an offer to swap outstanding senior secured notes due in 2012 for cash, in exchange for permission from the noteholders to amend an indenture that covers the loans, the company announced Friday.

The proposed amendments would abolish almost all of...
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