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.