LightSquared, owned by Philip Falcone, may receive a $585 million loan to build its wireless network, Bloomberg reports. UBS and JPMorgan Chase are expected to provide the loan facility.
The company currently has about $1.75 billion in debt and equity. LightSquared is seeking to build a network covering about 100 million Americans by the end of 2012 and 260 million by 2016.
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