Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 56.80

+0.2%

Nov 21 9:30 AM EST

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To: Drew Williams who wrote (3341)	3/9/1999 8:28:00 PM
From: djane	Read Replies (2) of 29987

Info on ICO financing Top > Business and Finance > Stocks > Services > Communications Services > ICOGF (ICO Global Communications) Article "ICO Due Diligence Continues" by: phil_m_a 165 of 166 (From Satellite Finance Issue 11 February 11 1999) ICO Due Diligence Continues Due diligence continues on the bank finance for ICO Global Communications. The facility will be for a total of up to US$2bn. Lead arrangers are ABN AMRO, Bank of America, Deutsche Bank and JP Morgan. ICO would like to complete the facility before the summer, but the banks are aware this may be too optimistic a timetable. The banks have been pleased to see the recent rises in ICO's stock price. On February 2 it closed at US$14.24, still a premium to its US$12 issue price. They were also encouraged by the success of Iridium's recent US$1.95bn debt finance. As Iridium and Globalstar press on with their projects, the market for global satellite project lending seems to deepen. Even so, bankers are increasingly aware of the competition, not only from the other two global operators, but also from UMTS, and from regional satellite projects. Sources point out that when the three global projects were conceived the market was thought to be able to sustain them. But now the mobile operators have moved in fast, and UMTS could eventually offer global coverage (assuming roaming) with greater bandwidth capacity than the global satellite systems. ************************************** Posted: Mar 9 1999 12:53PM EST as a reply to: Msg 1 by YahooFinance

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