[Satellite TODAY 10-29-09] Iridium Communications has named Goldman Sachs as its lead global advisor on the financing of the Iridium Next satellite constellation, Iridium announced Oct. 28.
    Goldman Sachs will lead Iridium’s initiative to secure the remainder of funding necessary to develop, build and launch the new constellation, which is anticipated to launch in 2014.
    Iridium said it still expects to fund a substantial portion of the Iridium Next project from internally generated cash flow as well as revenues derived from hosted payloads on its next generation constellation, warrant proceeds and capital acquired in the recent closing of the company’s merger with GHL Acquisition.
    Iridium also announced that it would select Iridium Next’s prime contractor in the coming months. Lockheed Martin and Thales Alenia Space are competing to secure the prime contract.
    Separately, Iridium announced it retained Hawkpoint Partners as an additional advisor to focus on European sources of financing. Hawkpoint worked with Iridium as it completed its transition from private to public company.

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