Ligado Gets Forbearance Extension on $4.2 Billion Debt Maturity

Ligado Networks disclosed to some investors that it received another forbearance on about $4.2 billion of first-lien notes that matured on Nov. 1, according to people with knowledge of the situation.

• The satellite company’s reprieve has now been extended to Jan. 15 from mid-November, said the people, who asked not to be identified discussing a private matter
  • Representatives for Ligado didn’t respond to requests for comment
• The notes last changed hands for nearly 25 cents on the dollar on Nov. 1, according to Trace data
• The struggling satellite company requested forbearance after it sued the US government in October over ...