Company Closes Three-Year Arrangement With Wells Fargo Subsidiary Foothill CapitalOrbital Sciences Corporation (NYSE: ORB) today announced that it has established a new three- year $60 million working capital facility with Foothill Capital Corporation, a wholly-owned subsidiary of Wells Fargo & Company (NYSE: WFC), serving as the lead lender in this facility, with Ableco Finance LLC as a supporting lender. The credit facility consists of a $35 million receivables-based revolving line of credit and a $25 million term loan. Orbital has provided the lenders with a first-priority lien on the company's unencumbered assets as security for the debt.
Orbital is one of the world's leading developers and manufacturers of affordable space systems for commercial, civil government and military customers. The company's primary products are spacecraft and launch vehicles, including low-orbit, geostationary and planetary satellites for communications, scientific and remote sensing missions; ground- and air- launched rockets that deliver satellites into orbit; and missile defense boosters that are used as target vehicles. Orbital also offers space-related technical services to government agencies and develops and builds satellite- based transportation management systems for public transit agencies and private vehicle fleet operators.
More information about Orbital can be found at http://www.orbital.com .CONTACT: Barron Beneski, Public and Investor Relations, of Orbital Sciences Corporation, +1-703-406-5528, or firstname.lastname@example.org.
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CONTACT: Barron Beneski, Public and Investor Relations, of Orbital Sciences Corporation, +1-703-406-5528, or email@example.com URL: http://www.orbital.com http://www.prnewswire.com
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