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E E Euthanasia

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E E Euthanasia

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Monday, 09/09/2019 7:10:13 PM

Monday, September 09, 2019 7:10:13 PM

Post# of 12081
Ergen, EchoStar join Globalstar debt deal (SA)

Charlie Ergen and his EchoStar (NASDAQ:SATS) firm have jumped in on Globalstar's (NYSEMKT:GSAT) debt refinancing as a strategic partner, The Wall Street Journal reports.

Globalstar struck a deal to raise $195M to mitigate a cash crunch, and most of the capital is coming from EchoStar as well as a company controlled by Globalstar Chairman Jay Monroe, according to the report.

That capital would pay off a $62M bridge loan Globalstar took out in June while it negotiated refinancing.

Ergen is chairman of EchoStar as well as of satellite-TV operator Dish Network (NASDAQ:DISH).

Globalstar is up 11.3% after hours.

https://seekingalpha.com/news/3498121-ergen-echostar-join-globalstar-debt-deal
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