COVINGTON, La., April 22, 2013 (GLOBE NEWSWIRE) -- Globalstar, Inc. (OTCBB:GSAT) announced today that the forbearance agreement with respect to the Company's 5.75% Convertible Senior Notes due 2028 (the "Existing Notes") has been amended to extend the forbearance period through 11:59 pm (ET) on April 29, 2013 as negotiations with the forbearing note holders continue. Additionally, the extension will allow additional time to obtain required consents from the Company's senior secured lenders regarding an exchange transaction. To the extent this process is not complete by April 29, 2013, the forbearance agreement may be extended further by agreement of the parties; however, there is no assurance any further extension will be provided.
Globalstar Announces Extension Of Forbearance Agreement Regarding 5.75% Senior Notes
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