Iridium thinking ahead to life after Coface loan, when M&A is possible

by Peter B. de Selding

PARIS — Mobile satellite services provider Iridium Communications expects to pay down its export-credit-agency loan early by taking advantage of favorable commercial financing markets to be able to acquire an Internet of Things (IoT) business, Chief Executive Matt Desch said June 13.

Desch did not specify a given investment, but said Iridium would not refinance its $1.8-billion loan from France’s Coface simply to paid down debt.

Iridium’s debt is expected to peak at 6.5 times EBITDA this year, after which the company expects . . .

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