Davis Polk is advising Morgan Stanley Senior Funding, Inc. and The Bank of Tokyo-Mitsubishi UFJ, Ltd., as joint lead arrangers and joint bookrunners for $1.2 billion of financing in connection with DigitalGlobe, Inc.’s acquisition of GeoEye, Inc. The financing consists of a $1.05 billion senior secured term loan facility and a $150 million senior secured revolving credit facility. The obligations under the facilities are guaranteed by certain of DigitalGlobe’s domestic subsidiaries and are secured by substantially all of the assets of DigitalGlobe and the guarantors. The acquisition is expected to close in 2013.
Based in Longmont, Colorado, DigitalGlobe is a leading global provider of commercial high-resolution earth imagery products and services. Its products and services support a wide variety of uses, such as defense, intelligence and homeland security applications, mapping and analysis, environmental monitoring, oil and gas exploration and infrastructure management. The imagery at the foundation of DigitalGlobe’s products is collected via three high-resolution imaging satellites.
The Davis Polk financing team includes partner James A. Florack and associates Vivian Y. Wong, Peter T. Bazos and Christopher R. Utecht. All members of the Davis Polk team are based in the New York office.
