Jefferies, Harbinger to Arrange LightSquared Exit Financing
Reuters reported that LightSquared, the bankrupt wireless broadband communications company, split its proposed $3 billion exit term loan. The term loan will now consist of a $2 billion first lien loan and a $1 billion second lien tranche, citing anonymous sources. The article also noted that Jefferies is arranging the first lien loan.
Additionally, Reuters said Harbinger Capital Partners will handle the syndication of the $1 billion second lien loan.
To read the full Reuters story, click here.
Previously on abfjournal: BusinessWeek: LightSquared Reaches Agreement With Lenders, June 18, 2013