Phil Falcone's Passion Project Probably Good For $1 Billion: Credit Suisse
Philip Falcone’s LightSquared Inc. will probably be able to borrow $1 billion to finance its exit from bankruptcy as a standalone company, Credit Suisse Securities LLC said in a letter made public Friday. The Credit Suisse Group AG (CSGN) unit said it was confident it could arrange the proposed bankruptcy-exit loan as long as LightSquared, a wireless broadband provider, met conditions including obtaining the “cooperation of all parties-at-interest” in the reorganization and “all required regulatory approvals.” Philip Falcone’s LightSquared Inc. will probably be able to borrow $1 billion to finance its exit from bankruptcy as a standalone company, Credit Suisse Securities LLC said. [Bloomberg]