Space Systems/Loral Secures $100 Million Credit Deal

By | November 3, 2008 | Satellite News Feed, Telecom

Space Systems/Loral (SS/L), a subsidiary of Loral Space & Communications [LORL] entered into a three year, fully secured $100 million revolving credit agreement led by J.P. Morgan Securities Inc. and syndicated among six of the world’s largest banks.

"We are pleased to close this financing despite the current market challenges," said Michael Targoff, CEO of Loral.

"This facility not only provides SS/L with additional resources to meet both its working capital and capital expenditure requirements but also provides cushion for contingencies."

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