[SatNews] Replacing the Company's existing revolving credit facility is this new arrangement...

Orbital Sciences Corporation (NYSE: ORB) has entered into a new five-year, $300 million revolving credit facility that replaces the company's existing $100 million revolving credit facility, which was scheduled to mature in 2012.  The new facility also permits the company to increase the aggregate principal amount up to $450 million, subject to the availability of additional commitments from the lenders. The new facility is led by Wells Fargo and was co-arranged by Citi and Bank of America.

"The terms and conditions of the new credit facility reflect the financial strength of Orbital and will support the company's anticipated growth in the future.  With an attractive pricing and covenant structure reflecting the very favorable credit market conditions, the new facility will allow Orbital to maintain a high level of financial flexibility to pursue a profitable and sustainable growth strategy," said Mr. Garrett E. Pierce, Orbital's Vice Chairman and Chief Financial Officer.