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ENT - Global Eagle Entertainment Inc News Story

$1.9 -0.2  -10.4%

Last Trade - 03/08/20

Sector
Telecoms
Size
Micro Cap
Market Cap £5.46m
Enterprise Value £592.3m
Revenue £485.3m
Position in Universe 5706th / 6366

BRIEF-Global Eagle In Discussions With Existing Investors To Address Balance Sheet By Reducing Leverage And Increasing Liquidity

Fri 10th July, 2020 2:29pm
July 10 (Reuters) - Global Eagle Entertainment Inc  ENT.O :
    * GLOBAL EAGLE IN DISCUSSIONS WITH EXISTING INVESTORS TO
ADDRESS
BALANCE SHEET BY REDUCING LEVERAGE AND INCREASING LIQUIDITY
    * GLOBAL EAGLE ENTERTAINMENT- ENGAGED IN DISCUSSIONS WITH AD
HOC
GROUP OF CURRENT INVESTORS REGARDING WAYS CO CAN REDUCE ITS
LEVERAGE, ENHANCE LIQUIDITY
    * GLOBAL EAGLE ENTERTAINMENT - CURRENTLY ENGAGED IN ONGOING
DISCUSSIONS WITH CERTAIN EXISTING TERM LOAN INVESTORS
    * GLOBAL EAGLE ENTERTAINMENT INC -  DISCUSSIONS ARE FOCUSED
ON A
POTENTIAL TRANSACTION THAT WILL PROVIDE NEW CAPITAL TO THE CO
    * GLOBAL EAGLE ENTERTAINMENT INC - EXPECTS LITTLE OR NO
DISRUPTION
TO ITS CUSTOMERS AND TRADE RELATIONSHIPS
    * GLOBAL EAGLE ENTERTAINMENT - IN CONNECTION WITH THEIR
ONGOING
DISCUSSIONS, CO AND THE INVESTOR GROUP TODAY AMENDED CO’S CREDIT
AGREEMENT
    * GLOBAL EAGLE - AMENDMENT PERMITS PAYMENT OF INTEREST
PAYMENT DUE
ON JULY 9 TO BE MADE BY AUGUST 1 WITHOUT OCCURRENCE OF EVENT OF
DEFAULT
    * GLOBAL EAGLE- DUE TO CO'S CURRENT FINANCIAL CONSTRAINTS,
THERE
IS SUBSTANTIAL RISK THAT IT MAY BE NECESSARY FOR CO TO SEEK
PROTECTION UNDER CHAPTER 11

Source text for Eikon: [ID: https://bit.ly/3gLWpRQ]
Further company coverage:  ENT.O 

 ((Reuters.Briefs@thomsonreuters.com;))
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