ORBCOMM, Inc. (NasdaqGM:ORBC) announced a private placement of 9.50% senior secured notes due 2018 with AIG Asset Management (U.S.), LLC for gross proceeds of $45,000,000 on January 4, 2013. The notes will mature on January 4, 2018, carries an interest rate of 9.50% per annum, payable on a quarterly basis and the entire principal is due on the maturity date. The company may prepay the notes at any time prior to the maturity date.

On January 7, 2013, ORBCOMM Inc. closed the transaction. Sagent Advisors, LLC served as financial advisor and Milbank, Tweed, Hadley & McCloy LLP acted as legal advisor to the company.