Canaccord Genuity advises Iridium Satelitte on a US$210m refinancing

The refinancing was co-arranged and co-underwritten by Lehman Brothers and Morgan Stanley. It comprises senior and second lien term debt of US$200m, representing approximately 4x EBITDA, and a US$10m revolving credit facility.

Canaccord Genuity's role consisted of advising Iridium on the amount and structure of debt, inviting refinancing proposals from a number of US-based financial institutions and negotiating the terms of the new debt facilities.

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