LightSquared Announces Significant Financing
Posted by Jesse Ward on Monday, October 4, 2010 · 
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Wireless broadband and satellite network provider LightSquared announced yesterday that it has closed on $850 million of debt which represents the initial round of a syndicated secured credit facility arranged and led by UBS AG.
As we first reported in July, LightSquared plans to use the financing to construct a nationwide, 4G LTE network. The company does not plan to compete directly with retail providers, but rather offer wholesale access to a variety of other mobile broadband providers. The network will consist of approximately 40,000 cellular base stations, and the company plans to cover 92% of the U.S. population by 2015. Read more
LightSquared to Build Nationwide, Wholesale 4G Network
Posted by Jesse Ward on Wednesday, July 21, 2010 · ·
LightSquared, backed by Harbinger Capital Partners, is investing billions to create a nationwide, wholesale, 4G wireless network, using satellite and terrestrial technology. The new company, which was launched just yesterday, has received $2.9 billion in assets from Harbinger, and raised a portion of $1.75 billion in debt and equity from unnamed sources.
LightSquared does not plan to compete directly with retail providers, but rather offer wholesale access to a variety of other mobile broadband providers. ”As the nation’s first wholesale-only integrated wireless broadband and satellite network, LightSquared will provide wireless broadband capacity to a diverse group of customers, including retailers; wireline and wireless communication service providers; cable operators; device manufacturers; web players; content providers; and many others,” LightSquared said in a release. LightSquared plans to offer its partners three coverage options: satellite-only, terrestrial-only or a combination of the two.
The company has selected Nokia Siemens Network to build, operate and maintain the wireless network in an eight-year deal valued at $7 billion. The network will consist of approximately 40,000 cellular base stations, and the company plans to cover 92% of the U.S. population by 2015. LightSquared controls 59 MHz of nationwide spectrum. Read more