September 18, 2009, 2009 (FinancialWire) — GeoEye, Inc. (NASDAQ: GEOY) said it is proposing to offer $350 million of senior secured notes due 2015 in a private placement.

The company plans to use the net proceeds to fund a tender offer to purchase any and all of GeoEye’s outstanding $250 million of floating rate senior secured notes due 2012. The company said it will also use the funds for general corporate purposes, which may include funding a portion of the costs of constructing a new high-resolution satellite.

Dulles, Virginia-based GeoEye is the provider of satellite and aerial imagery, geospatial information, geospatial products, and solutions for the national security community, strategic partners, and commercial customers. GeoEye’s operates the earth imaging satellites GeoEye-1, Ikonos and OrbView-2, two mapping aircraft, and a network of regional partners and satellite receiving ground stations.

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