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GSAT > SEC Filings for GSAT > Form 8-K on 22-Aug-2013All Recent SEC Filings

Show all filings for GLOBALSTAR, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for GLOBALSTAR, INC.


22-Aug-2013

Entry into a Material Definitive Agreement, Financial Statements and Exhibits


Item 1.01 Entry into a Material Definitive Agreement

Credit Facility

As previously announced, on July 31, 2013, Globalstar, Inc. (the "Company" or "Globalstar") entered into a Global Deed of Amendment and Restatement (the "GARA") with Thermo Funding Company LLC ("Thermo"), Globalstar's domestic subsidiaries (the "Subsidiary Guarantors"), a syndicate of bank lenders, including BNP Paribas, Societe Generale, Natixis, Credit Agricole Corporate and Investment Bank and Credit Industrial et Commercial as arrangers and BNP Paribas as the security agent and COFACE Agent, providing for the amendment and restatement of Globalstar's existing $586.3 million senior secured credit facility (the "COFACE Facility') dated as of June 5, 2009 (as previously amended, the "Existing Credit Agreement") and certain related credit documents.

The GARA, as amended by the Deed of Amendment among the parties dated August 21, 2013, became effective on August 22, 2013 and waived all of Globalstar's existing defaults under the Existing Credit Agreement, extended the term of the facility by two and a half years (postponing an aggregate of $235.3 million in principal payments through 2019), and restructured the financial covenants. See Globalstar's Current Report on Form 8-K filed August 6, 2013 for a description of the material terms of the GARA, the changes to the terms of the COFACE Facility and the Amended and Restated Loan Agreement with Thermo.

Copies of the GARA and related material documents are attached hereto as Exhibits 10.1, 10.2, 10.3 and 10.4.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

10.1 Global Deed of Amendment and Restatement dated July 31, 2013
10.2 Deed of Amendment in respect of the Global Deed of Amendment and Restatement dated August 21, 2013
10.3 Amended and Restated Facility Agreement effective August 22, 2013
10.4 Amended and Restated Loan Agreement between Globalstar, Inc. and Thermo Funding Company LLC dated as of July 31, 2013

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