MEDIA RELEASE PR41587
LightSquared Announces Significant Financing
RESTON, Va., Oct. 4 /PRNewswire-AsiaNet/ --
NEWS HIGHLIGHTS:
-- LightSquared Announces Closing of $850 million UBS AG Credit Facility
-- LightSquared Intends to Accelerate the Implementation of the
Cooperation Agreement with Inmarsat
-- LightSquared Signs First Wholesale Agreements with Customers
LightSquared(TM), the nation's first wholesale-only integrated wireless broadband and satellite network,
announced today it has closed on $850 million of debt, which represents the initial round of a syndicated secured
credit facility arranged and led by UBS AG. The term of the credit facility will be four years, non-callable in the first
year. LightSquared will use the proceeds of the financing for general corporate purposes which include
constructing its world-class, 4G-LTE-wholesale network. With this additional $850 million, LightSquared has
obtained an aggregate of more than $2 billion in equity and debt proceeds and in commitments.
Sanjiv Ahuja, chairman and chief executive officer of LightSquared, stated: "We are extremely pleased that we
have secured this significant amount of financing and believe it endorses our overall business model, while
providing LightSquared with a solid step forward to execute our strategy and begin building out our 4G-LTE-
wholesale network."
LightSquared also announced it has signed its first wholesale agreements and is in advanced negotiations with
numerous potential customers. Given this strong early indication of demand for capacity on its 4G-LTE-wholesale
network, LightSquared further announced that it intends to accelerate the implementation of Phase 2 of the
Inmarsat Cooperation Agreement to the fourth quarter of this year. By doing so, LightSquared will obtain increased
access to spectrum controlled by Inmarsat.
Upon providing notice to Inmarsat of its intent to accelerate implementation, LightSquared will owe Inmarsat
annual spectrum lease payments. The first lease payment will be due upon delivery of notice by LightSquared to
Inmarsat.
Ahuja noted, "By accelerating Phase 2 of the Inmarsat Cooperation Agreement, we will be able to utilize and
deploy additional spectrum earlier than anticipated, further enhancing the capacity of LightSquared's 4G-LTE-
wholesale network."
About LightSquared
LightSquared's mission is to revolutionize the U.S. wireless industry. Through the creation of the first-ever
wholesale-only nationwide 4G-LTE network complemented by satellite coverage, LightSquared offers people the
speed, value, and reliability of universal broadband connectivity, wherever they are in the United States. Through
its wholesale-only business model, those without their own wireless network or who have limited geographic
coverage or spectrum can develop and sell their own devices, applications, and services using LightSquared's
open 4G network-at a competitive cost and without retail competition from LightSquared.
Forward Looking Statement:
This release contains forward-looking statements and information regarding LightSquared and its business. Such
statements are based on the current expectations and certain assumptions of LightSquared's management and
are, therefore, subject to certain risks and uncertainties. The forward-looking statements expressed herein relate
only to information as of the date of this release. LightSquared has no obligation to update these forward-looking
statements to reflect events or circumstances after the date of this release, nor is there any assurance that the
plans or strategies discussed in this release will not change.
SOURCE: LightSquared
CONTACT: In the U.S.: Amy Rosenberg
Burson-Marsteller
+1-212-614-4558
In the UK: Andrew Honnor
Tulchan Communications
+44 (0)20 7353 4200
NEWS 
