Ligado Seeks Temporary Reprieve on $4.2 Billion Debt Maturity

Ligado Networks LLC has asked debt holders to approve a forbearance request on about $4.2 billion of first-lien notes that mature Nov. 1, according to people with knowledge of the matter.

• The satellite company is asking for a reprieve until mid-November, said the people, who asked not to be identified discussing a private matter
  • Messages left with Ligado were not returned
• The notes last changed hands for 24 cents on the dollar on Oct. 26, according to Trace
• The forbearance request comes after the struggling satellite company sued the US government over spectrum rights that it can’t use, Bloomberg previously ...