CASPER
New member
Space Systems/Loral Gains Credit Facility
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Despite the economic and Wall Street challenges, one satellite firm has gained access to capital.
Space Systems/Loral, the satellite manufacturing unit of Loral Space and Communications, entered into a three year, fully secured $100 million revolving credit agreement led by J.P. Morgan Securities and syndicated among six banks.
Loral CEO Michael Targoff said the company is happy to close the financing despite the current market challenges. "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," he said.
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Despite the economic and Wall Street challenges, one satellite firm has gained access to capital.
Space Systems/Loral, the satellite manufacturing unit of Loral Space and Communications, entered into a three year, fully secured $100 million revolving credit agreement led by J.P. Morgan Securities and syndicated among six banks.
Loral CEO Michael Targoff said the company is happy to close the financing despite the current market challenges. "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," he said.
