News: SDA Speedcast International Gets $395 Mln Equity Commitment From Centerbridge Partners

Aug 13 (Reuters) - Speedcast International Ltd (SDA) :

• RECEIVES US$395 MILLION EQUITY COMMITMENT FROM CENTERBRIDGE PARTNERS
• RECEIVED A US$395M EQUITY COMMITMENT TO COMPLETE CHAPTER 11 RECAPITALISATION
• CENTERBRIDGE ALSO COMMITTED TO PROVIDING, IF NEEDED, DEBTOR-IN-POSSESSION FINANCING OF UP TO US$220 MILLION
• PLAN WILL PROVIDE FOR CASH PAYMENTS TO HOLDERS OF SECURED CLAIMS.
• PLAN DOES NOT CONTEMPLATE ANY RECOVERY FOR EXISTING SHAREHOLDERS, WHO NO LONGER HAVE A STAKE IN REORGANISED CO