Globalstar gets amended and restated credit facility

By Sara Rosenberg

New York, Aug. 17 - Globalstar Inc. closed on an amended and restated credit facility, according to a company news release.

The facility consists of a $150 million delayed-draw term loan and revolver and a $150 million incremental term loan.

If commitments for the incremental term loan are received and the term loans are fully drawn, this represents an additional $100 million in financing over the $200 million debt agreement announced earlier this year, the release said.

Globalstar is a Milpitas, Calif.-based provider of mobile satellite voice and data services.

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