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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT -- Ignore unavailable to you. Want to Upgrade?

To: Valueman who wrote (7715)	10/5/1999 1:01:00 AM
From: waitwatchwander	Respond to of 29987

Globalstar Canada (and Iridium) will be exhibiting at this show in a couple of weeks. techgov.com On another front, I find it interesting that Globalstar Canada's national distributor is Rogers Cantel (TDMA) and that Bell Mobility (CDMA) was in bed with Iridium. Rogers own 20% of Cancom, Globalstar's Canadian operating partner. Given Cantel's TDMA network and Ericsson's main supplier agreement with Cantel leads me to ask: Can Ericsson's GSM/G* phones be tweeked to work with a TDMA network? Has anyone heard of such plans or plans for another manufacturer to supply a TDMA/G* phone? Thanx in advance. nf

To: Valueman who wrote (7715)	10/5/1999 2:00:00 AM
From: djane	Read Replies (1) \| Respond to of 29987

Maybe this is why Musey (BofA) has been so prominent lately... telecomfinancingweek.com August 9, 1999 VOL. II, NO. 32 B OF A SEEN HOLDING CHUNK OF GLOBALSTAR CREDIT. Bank of America was reportedly left holding onto about 75% of Globalstar Telecommunications? new US$500 million credit facility after a lack of lender interest hurt syndication of the facility. An isider at B of A, which underwrote the loan, admitted the deal did not syndicate as well as officials had hoped, but a banker at another firm, noting the deal closed last week after more than a month in syndication, called the process a disaster. He said the near failure of the deal was at least partly due to its resemblance to Iridium LLC?s bank facility, which last week was bid in the low 50s. Credit Lyonnais and Lehman Brothers are co-arrangers on the Globalstar deal. A B of A spokeswoman declined to comment. One sticking point on the Globalstar deal is its pricing, which is considered too low for the risk at 3 3/4% over LIBOR, a banker said. He noted the satellite system planned by Globalstar is not built yet and the company has no subscribers. He called the risk ?tremendous,? particularly as even Iridium already had its systems up and running when it launched its bank deal. A spokeswoman at Globalstar acknowledged that Iridium?s problems influenced the market, but insisted the companies have little in common. ?Iridium has shaken people up, but the two companies are worlds apart in the way they are structured and focused,? she said. Iridium?s US$800 million bank deal is led by Chase Manhattan Bank and Barclays Capital and last week Chase told Motorola, one of Iridium?s sponsors, that it must guarantee US$300 million of the loan. An Iridium spokeswoman declined to comment. Bank of America will likely have to restructure and resyndicate the portion of the Globalstar deal it holds, one trader said, adding the bank made the error of pushing the deal onto a market that is shying away from satellite communications deals following Iridium?s misfortunes. ?They should have just pulled it and repriced it,? he said.