Iridium Secures $1.8B In Loan Commitments

摘要

Mobile satellite services provider Iridium Communications on Aug. 4 announced it had secured bank commitments totaling more than $1.8 billion to finance the company's second-generation system of 72 in-orbit satellites and nine ground spares.rnThe funding, which will be part of a credit facility that has the tentative backing of France's export-credit agency, Coface, will carry an interest rate of less than 6 percent, most of which will be on fixed-rate terms, with repayment starting in 2017 and continuing through 2024.