SG CIB, acting as Mandated Lead Arranger together with four other banks, signed USD 586 million club deal in favor of Globalstar, Inc. (NASDAQ: GSAT), a leading provider of mobile satellite voice and data services to businesses, government and individuals.
This structured finance - type facility, backed by the French Export Credit Agency Coface, will provide funds to finance the manufacture, delivery and launch of the company's Globalstar 2.0 second-generation network and ground facilities in US.
Thales and Arianespace will be the main suppliers of Globalstar through various contracts that will mobilize 600 professionals in Europe in the space industry.