The operator of satellite communication Globalstar has received financing for a total sum about $738 million which includes earlier declared credit at a rate of $586 million and financing from company Thermo Funding, majority shareholder Globalstar.
As speak in the company, the given sum completely covers manufacture, delivery and start of a satellite network and land means of 2nd generation of system Globalstar, and also some long-term objects concerning accelerated delivery of additional reserve companions of 2nd generation. Besides it, the received financing will provide the company with the working capital and will facilitate introduction of the microcircuit complete set for satellite interfaces of following generation which are developed by company Hughes Network Systems.
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