A financial lifeline for Ligado Networks
Ligado Networks is raising $3.85 billion in expensive new financing to stay out of bankruptcy. The company's survival could be crucial to the long sought-after, and sometimes controversial, dream of deploying a nationwide 5G network. JPMorgan bankers presented Ligado’s bond deal earlier with juicy interest payments of 13% on the highest priority notes and 16% on the more junior notes. But that wasn't good enough — the bank changed the terms Oct 15 in order to drum up more demand. Ligado reduced the amount it is borrowing from $4.3 billion, and is now offering to pay a 15.5% coupon on the more senior notes and 17.5% on the junior bond.
A financial lifeline for 5G spectrum