Philip Falcone's Harbinger Capital Partners hedge-fund firm plans to pay Jefferies & Co. up to $80 million in fees as part of an exit-financing commitment for bankrupt wireless-satellite venture LightSquared, a loan that the company said would pay off bondholders in full, Dow Jones Daily Bankruptcy Review reported today. LightSquared added that the exit financing, a senior secured loan with terms that will be filed confidentially with the court, "will serve as the cornerstone of a standalone plan of reorganization for LightSquared that will most likely provide for full payment to all creditors and the retention of equity interests by shareholders."
