CDMA, Globalstar versus Iridium, Inmarsat, etc. Message Board

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Technology Stocks : CDMA, Globalstar versus Iridium, Inmarsat, etc.

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To: Maurice Winn who wrote (128)	6/9/1997 10:33:00 PM
From: duncan moyer	of 381

Iridium IPO set to go tomorrow, expected at ~$20 US. The following courtesy Closing Bell GLOBALSTAR TELECOMMUNICATIONS LTD said that it plans to sell $200 million in seven-year senior notes in the 144a private placement market. Bear Stearns & Co Inc will be the lead-underwriter of the high-yield bond offering, a market source said. The company said it will use the proceeds from the offering to develop, construct and deploy its worldwide, low-earth orbit satellite-based digital telecommunications system. Upon completion of the deal, the company will have raised $2.2 billion of the $2.5 billion it needs to complete construction of its 48-satellite system, a spokeswoman for the company said. Globalstar plan to begin offering global mobile telephone services on its system in late 1998. (Reuters 01:03 PM ET 06/09/97)

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