Spectrum monetisation plans steer Globalstar to look at comparable deals

摘要

Investment fervor around using satellite spectrum for terrestrial connectivity is boosting Globalstar's (NYSE:GSAT) search to monetise multiple bands to help fill an impending funding gap. The US-based MSS satellite operator faces a funding gap of about US$50m every six months for the next two years. Absent the monetisation of spectrum, the company in June 2020 will need to seek an amendment to its debt covenants to continue funding itself with equity cures. BNP Paribas is the lead bank of five in its lending syndicate, with the agreement backed by French export credit agency BPIFAE.