GeoEye (GEOY) Announces $400M Senior Secured Notes Offering

GeoEye, Inc. (Nasdaq: GEOY) announced its private placement offering of $400M in aggregate principal amount of 9 5/8% Senior Secured Notes due 2015.  The Notes will be sold at a price equal to 97.262% of their face value, with an effective yield of 10 1/4%.  The Notes Offering is expected to close on October 9, 2009.

The net proceeds of the Notes Offering will be used  to purchase any and all of GeoEye's outstanding $250M in aggregate principal amount of Floating Rate Senior Secured Notes due 2012 , and for general corporate purposes, which may include funding a portion of the costs of constructing a new high-resolution satellite.