Showing posts with label JP Morgan. Show all posts
Showing posts with label JP Morgan. Show all posts

Thursday, February 24, 2011

Sanjiv Ahuja - JP Morgan Loan -

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LightSquared confirms US$586M loan deal

US wholesale LTE operator LightSquared has secured US$586 million of funding in the form of a loan from UBS AG and JP Morgan. The company says it will use the finance for “general corporate purposes” as it attempts to deploy the country’s first wholesale-only hybrid satellite/LTE network. In a statement, Sanjiv Ahuja, CEO, said:


“Our investors share our belief that now is the time for a wholesale model to succeed, as we will bring desperately-needed 4G capacity to businesses, consumers, government and public safety users through a wide variety of retail partners which will sell services based on our integrated terrestrial and satellite network. We are deploying the most advanced network while offering service at a lower price, because as a pure wholesaler, we will not have retail overhead.” In the last seven months LightSquared has raised more than US$2 billion in debt and equity.

The company plans to go commercial in the third quarter of 2011 and is using Nokia Siemens Networks as its infrastructure vendor. It is reported to have signed agreements with its first five customers – “two carriers, a national retailer, a device manufacturer and a website” – although this has yet to be confirmed by the parties involved.

US LTE networks have already been launched (on a retail basis) by MetroPCS and Verizon Wireless, with AT&T due to switch on next year."

Source of Sanjiv Ahuja Post

http://www.mobilebusinessbriefing.com/article/lightsquared-confirms-us-586m-loan-deal


Tuesday, February 22, 2011

Philip Falcone, LightSquared Lands $586M from UBS, JP Morgan

"LightSquared Lands $586M from UBS, JP Morgan

LightSquared has closed $586 million in debt financing from UBS and JP Morgan, bringing its debt and equity financing over the past seven months to more than $2 billion.

The company will use the money to fund the construction of a hybrid satellite-terrestrial LTE network, which it will use to sell wholesale mobile broadband services in the United States and parts of Canada.

Sanjiv Ahuja, CEO of LightSquared, expressed confidence in the company's prospects in a statement.

"Our investors share our belief that now is the time for a wholesale model to succeed, as we will bring desperately-needed 4G capacity to businesses, consumers, government and public safety users through a wide variety of retail partners which will sell services based on our integrated terrestrial and satellite network," Ahuja said. "We are deploying the most advanced network while offering service at a lower price, because as a pure wholesaler, we will we will not have retail overhead."

LightSquared has reportedly landed five unnamed customers for its mobile broadband services and recently expedited a deal with Inmarsat to get more bandwidth for its LTE services."

Source of Lightsquared, Philip Falcone, Sanjiv Ahuja, Post