Reston, Va. - Preparing to launch trials of its nationwide mobile media service, ICO Global Communications said on Thursday that it has landed a $40 million credit facility from Jefferies Finance.

The company said that it initially will borrow an undisclosed amount under the facility, using the money for working capital and for general corporate purposes.

"ICO is entering an exciting period as we prepare to launch our North American satellite on April 14th, and to begin market trials for our... service later this summer," said Tim Bryan, the company's CEO.

The company's service, to be known as ICO mim, will feature tools for navigation, roadside assistance and mobile video, including 10-15 live channels of television content.

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