March 8, 2018 / 11:56 PM / 9 months ago

BRIEF-Global Eagle Announces $150 Million Investment From Searchlight Capital Partners

March 8 (Reuters) - Global Eagle Entertainment Inc:

* GLOBAL EAGLE ANNOUNCES $150 MILLION INVESTMENT FROM SEARCHLIGHT CAPITAL PARTNERS

* GLOBAL EAGLE ENTERTAINMENT - ‍NOTES INCLUDE INITIAL PAYMENT-IN-KIND INTEREST AT 12% PER ANNUM THAT LATER CONVERTS TO PAYMENT IN CASH AT 10% PER ANNUM​

* GLOBAL EAGLE ENTERTAINMENT - SEARCHLIGHT CAPITAL PARTNERS WILL GET $150 MILLION AGGREGATE PRINCIPAL AMOUNT OF CO’S NEW SECOND-LIEN NOTES DUE JUNE 30, 2023

* GLOBAL EAGLE ENTERTAINMENT - CO INTENDS TO USE PORTION OF PROCEEDS FROM TRANSACTION TO REPAY FULL $78 MILLION PRINCIPAL BALANCE ON CO’S CREDIT FACILITY

* GLOBAL EAGLE ENTERTAINMENT - INTENDS TO APPOINT RIC ZINTERHOFER AND ERIC SONDAG, BOTH PARTNERS AT SEARCHLIGHT, TO CO’S BOARD Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below