Ligado Networks LLC is heading back to the debt markets in hopes of raising as much as $4 billion that would steer the wireless company clear of a possible bankruptcy, WSJ Pro Bankruptcy reported. The spectrum venture could launch the debt sale as soon as Monday, hoping to refinance more than $2 billion in loans coming due in December that could otherwise tip Ligado into its second bankruptcy since 2012. JPMorgan Chase & Co. is managing the offering for Ligado, which is vying to overcome deep-seated resistance to its business plans among Pentagon officials and some members of Congress. The company is angling for capital as corporate debt issuance has surged during the coronavirus pandemic, fueled by sweeping interventions by the Federal Reserve that opened up access to credit markets even for troubled or risky borrowers. High-yield bond issuance year-to-date is close to $339 billion, up 72 percent from a year ago, according to LCD, a unit of S&P Global Market Intelligence.
