LightSquared DIP facility maturity extended via financing amendment

By Caroline Salls

Pittsburgh, July 22 – LightSquared Inc.’s debtor-in-possession facility was extended to the earlier of July 31 and the final maturity date of the LightSquared LP debtors’ DIP facility, according to an order filed Tuesday with the U.S. Bankruptcy Court for the Southern District of New York.

This marks the 11th amendment to the LightSquared DIP facility.

Earlier this month, the LightSquared LP debtors received court approval of a replacement DIP facility. The maturity date of the replacement facility was the earlier of July 21 and the effective date of a plan of reorganization in the LightSquared cases.

LightSquared is a Reston, Va.-based wholesale-only 4G-LTE network integrated with satellite coverage. The company filed for bankruptcy on May 14, 2012 under Chapter 11 case number 12-12080.

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