Silver Spring, Md. - Worldspace Satellite Radio, a provider of satellite radio service to international markets, said that it has landed a $40 million subordinated debt facility from a company controlled by its chairman and CEO, Noah Samara.

Worldspace, which also has to be cleared by existing debt holders to waive certain pre-payment obligations, said that it will use the new financing to support the upcoming launch of its European mobile service in the Italian market.

The company also said that it is continuing to look for additional funding from investors.

Under the new deal, Yenura will make up to $40 million available to Worldspace, which the company must draw down on or prior to Jan. 31, 2008.

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