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Wireless

LightSquared files deal with Jeffreys to exit bankruptcy

Wednesday 5 June 2013 | 11:59 CET | News
US company LightSquared, which plans to offer an integrated LTE-satellite wholesale service, has reached an agreement with investment bank Jeffries to finance its exit from bankruptcy protection, according to a filing with the US bankruptcy court in Manhattan, Dow Jones reports. Under the terms of the deal, LightSquared and parent company Harbinger Capital Partners would pay Jeffries up to USD 80 million in fees. A senior secured loan from Jeffries, whose terms have been filed confidentially with the court, would be the cornerstone of LightSquared's reorganisation and "will most likely

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Categories: Mobile & Wireless / Broadcast & Satellite
Companies: Harbinger / LightSquared
Countries: United States
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