LightSquared DIP facility maturity date extended under 13th amendment

By Caroline Salls

Pittsburgh, Aug. 29 – LightSquared Inc.’s debtor-in-possession facility was extended to the earlier of Sept. 30 and the final maturity date of the LightSquared LP debtors’ DIP facility, according to an order filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.

This marks the 13th amendment to the LightSquared DIP facility.

Under an Aug. 28 order, LightSquared LP’s sixth replacement DIP facility will mature on the earlier of Nov. 15 and the effective date of a plan of reorganization.

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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