Echostar Provides Financing for Globalstar, Inc.
New York and London – Paul Hastings LLP, a leading global law firm, announced today that the firm represented EchoStar Corporation, a leading provider of global satellite solutions, in the cross-border refinancing and reorganization of the capital structure of Globalstar, Inc. (NYSE American: GSAT), the Covington, La.-based provider of mobile voice and data communication services. The refinancing included a new second lien facility, co-led by a subsidiary of EchoStar Corporation, consisting of a term loan facility in the aggregate principal amount of approximately $190.0 million and common stock warrants. The proceeds of the second lien term loan facility were used to pay down existing debt.
New York-based finance partner
The Paul Hastings Leveraged Finance team consists of more than 100 lawyers focusing on key markets across Asia, Europe, Latin America, and the U.S. Our lawyers advise many of the largest and most sophisticated financial institutions around the world. The Leveraged Finance team recently advised on several high-profile financing deals, including the $3 billion financing announced for Bain’s acquisition of Kantar from WPP; the $2.2 billion financing of the acquisition of Campbell Soup’s international operations by KKR; £2.5 billion financing announced for Advent’s acquisition of Cobham and Starwood Energy’s $1.23 billion acquisition of combined-cycle gas turbine power plants from Dominion Energy.
At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.