LightSquared DIP maturity date extended to new status conference date

By Kali Hays

New York, Dec. 15 – LightSquared Inc. received an extended maturity date for its $113.07 million debtor-in-possession loan, under an 18th DIP financing amendment order from the U.S. Bankruptcy Court for the Southern District of New York.

LightSquared’s DIP facility will be extended to the earlier of Dec. 18 and the final maturity date of the LightSquared LP debtors’ DIP facility.

The extension coincides with the company’s rescheduled status conference, which has been moved from Dec. 15 to Dec. 18.

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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