LightSquared Lands Exit Financing Deal With Jefferies

Law360, New York (May 31, 2013, 3:30 PM EDT) -- LightSquared Inc. on Friday said it reached a deal with Jefferies LLC to finance its exit from bankruptcy but is asking a court to keep the terms of the agreement under wraps in an effort to keep the information out of the hands of competing financial institutions.

In a court filing, LightSquared sought approval for the financing, which it says should fulfill the company’s prepetition debt and serve as a critical step toward repaying its creditors and exiting bankruptcy. LightSquared’s largest equity holder, Philip Falcone’s hedge...
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