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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
June 13, 1997
GLOBALSTAR TELECOMMUNICATIONS LIMITED
(Exact name of registrant as specified in its charter)
Islands of Bermuda 0-25456 13-3795510
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number
Cedar House, 41 Cedar Avenue, Hamilton, Bermuda HM 12
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(441) 295-2244
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Item 5. Other Events.
On June 13, 1997, pursuant to an agreement dated June 10,
1997, Globalstar, L.P. ("Globalstar"), a partnership of which the Registrant is
a general partner, completed the sale in a private offering of Globalstar's
11-1/4% senior notes due 2004 (the "Notes"). The price to investors was 95.384%
of the principal amount of the Notes to yield 12-1/4% to maturity.
The net proceeds of the offering will be used by Globalstar
for the continued construction and deployment of Globalstar's low-earth orbit
satellite-based digital telecommunications system.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
GLOBALSTAR TELECOMMUNICATIONS
LIMITED
(Registrant)
Date: June 19, 1997 By: /s/ Eric J. Zahler
Eric J. Zahler
Vice President and Secretary
