Space Business Review - April 2017

ORBCOMM PRICES $250M BOND OFFERING

On March 31, global M2M solutions provider ORBCOMM Inc. (ORBCOMM) announced that it priced $250m aggregate principal amount of 8% senior secured notes due 2024. ORBCOMM intends to use the net proceeds from the notes issuance to repay $150m in outstanding loans under its existing $160m secured credit facilities and for general corporate purposes, including potential future acquisitions.

LUXEMBOURG PROMOTES SPACE MINING

On April 12, a delegation from the Grand Duchy of Luxembourg met at the NASA Ames Research Center with NASA officials, Silicon Valley entrepreneurs and investors to discuss Luxembourg's Space Resources campaign, which promotes harvesting of natural resources from asteroids, moons and planets. Luxembourg announced plans to launch the campaign committing €200m last year to the initiative; it is now working to establish a space agency that will bring together public and private capital to invest a further €70-100m in