Lenders to satellite provider Speedcast are believed to be in the process of drafting in a corporate adviser to help assess their $US600m worth of loans to the struggling telecommunications services provider.
Speedcast has $US600m worth of Term Loan B debt with US based banks and a $100m revolving credit facility.
The syndicate that holds the revolving credit facility includes Credit Suisse, Citi, Macquarie Group, ING and Credit Agricole
It comes as advisory firm Moelis is understood to be positioning itself to work on the satellite provider Speedcast, which many believe is heading for a collapse amid the current market turmoil.
On Friday, Speedcast made a request to the ASX to extend its trading halt after initially entering a halt on February 5. This was in relation to its interim results, and it is now expected to release its results this month.
The group’s market value is less than $200m now but it was worth $1.4bn in 2018.
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