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Technology Stocks : IRID - Iridium World Communications IPO Announced! -- Ignore unavailable to you. Want to Upgrade?

To: allen v.w. who wrote (2188)	7/19/1999 5:02:00 PM
From: Geoff Goodfellow	Read Replies (1) \| Respond to of 2693

Handset/Sat link budget question. Dear Thread: Does anyone have information/data regarding the link budgets between the satellites and the handheld subscriber units for IRID, ICOGF, GSTRF and Inmarsat Mini-M? I am curious to know what level of "punch" each constellation has to support use in shadowing/blockage conditions such as foilage/trees, buildings and other line of sight obstructions. Thanks in advance. Best regards to all.

To: allen v.w. who wrote (2188)	7/19/1999 11:40:00 PM
From: Marty Rubin	Respond to of 2693

Iridium CFO calls bankrupcy filing unrealistic ("old" news; check also WSJ article today on same subject --Marty) NEW YORK, July 19 (Reuters) - Leo Mondale, Iridium <IRID.O> chief financial officer, said that filing for bankruptcy court protection isn't a realistic option for the global satellite-phone venture, the Wall Street Journal reported. "Our anticipation is that we will be in the market with a proposal that offers an alternative to paying cash interest on bonds before the expiration of the grace period," Mondale told the paper in an interview. Mondale also predicted the project will devise a restructuring plan that offers Iridium's bondholders "an alternative to cash" well within a 30-day deadline now unfolding. Iridium last week said it planned to exercise its right to extend the payment date for $90 million in interest on its high-yield bonds, heightening concern that Iridium would miss the payment and might have to file for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code. Mondale declined to elaborate on details of a possible restructuring but said any proposal would need to address "the overall financial structure of the business and give us some time to get revenues built up." Mondale added that none of Iridium's partners, at this juncture, have been asked to contribute additional funds. He also noted that Iridium has never missed "any payment of any kind." The paper said Mondale emphasised a bankruptcy-court filing isn't a realistic alternative. Although such filings are relatively common in the U.S., they still have a significant stigma attached to them in other parts of the world, the paper reported. And Iridium has a large foreign investor base. "We'd spend so much time explaining ourselves (to non-U.S. investors) that it could cost us a year's time in the market," Mondale told the paper. Iridium's nineteen consortium members have so far shown little enthusiam for contributing additional funds. Motorola Inc. <MOT.N>, which has an 18 percent stake, has said it will not increase its support unless other consortium members also contribute. Lockheed Martin <LMT.N> which has a stake of about one percent, said last week it does not plan to contribute any additional funds. Raytheon Co. <RTNa.N>, which owns less than 5 percent, has said it plans to live up to its existing financial commitments but has declined to comment on any future contributions. Sprint Corp. <FON.N>, which also owns a small stake, has declined comment. 06:10 07-19-99