DC Advisory* acted as exclusive placement agent to ORBCOMM Inc. (NasdaqGM:ORBC) (“ORBCOMM”), a satellite data communications company, on its issuance of $45 million of covenant-free Senior Secured Unitranche Notes (the “Unitranche Notes”). The Unitranche Notes were provided by AIG Asset Management and the proceeds will be used to a) fund potential future acquisitions, b) fund capital expenditures related to the Company’s next-generation OG2 satellite constellation, and c) refinance existing indebtedness. Headquartered in Fort Lee, New Jersey, ORBCOMM is a leading global satellite data communications company, specializing in Machine-to-Machine (M2M) communications. Its customers include Caterpillar Inc., Hitachi Construction Machinery and Hyundai Heavy Industries, Asset Intelligence, Komatsu Ltd., Manitowoc Crane Companies, Inc. and Volvo Construction Equipment among other industry leaders.
*Find out more about DC Advisory >