Getting your player ready...
DigitalGlobe Inc., the satellite imaging company from Longmont, set the rate on a $500 million term loan B it’s seeking to tender its 10.5 percent senior secured notes due in 2014, according to a person with knowledge of the transaction.
Morgan Stanley and JPMorgan Chase & Co. arranged the loan that will pay 4.5 percentage points more than the London interbank offered rate, said the person, who declined to be identified because the terms are private. Libor, a rate banks charge to lend to each other, will have a 1.25% floor.
The company sold the debt at 97.5 cents on the dollar, reducing proceeds for the company and boosting the yield for investors.
