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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):
November 17, 2000
GLOBALSTAR TELECOMMUNICATIONS LIMITED
(Exact name of registrant as specified in its charter)
Islands of Bermuda 0-25456 13-3795510
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number
Cedar House, 41 Cedar Avenue, Hamilton, Bermuda HM 12
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(441) 295-2244
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GLOBALSTAR, L.P.
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(Exact name of registrant as specified in its charter)
Delaware 333-25461 13-3759824
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number
3200 Zanker Road, San Jose, California 95134
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(408)933-4000
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Item 5. Other Events.
On November 17, 2000, Globalstar, L.P. ("Globalstar") entered into an
Assignment, Amendment and Release Agreement with the lenders ("Lenders") under
its $500 million credit facility, Loral Space & Communications Ltd. ("Loral"),
Loral Satellite, Inc. ("Loral Satellite") and certain other subsidiaries of
Loral, pursuant to which Globalstar consented to the assignment by the Lenders
to Loral Satellite of all of the loans outstanding under its $500 million credit
facility. Bank of America, National Association remains the Administrative
Agent for the credit facility.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
Exhibit 10.1 Assignment, Amendment and Release Agreement dated as of
November 17, 2000 by and among the lenders parties to the
Globalstar Credit Agreement, Loral Satellite, Inc.,
Loral Satcom Ltd., Loral Space & Communications Ltd.,
Loral Space & Communications Corporation, Globalstar, L.P.
and Bank of America, National Association.
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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
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(Registrant)
Date: November 20, 2000 By: /s/ Avi Katz
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Avi Katz
Vice President and Secretary
Globalstar, L.P.
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(Registrant)
By: Loral/QUALCOMM Satellite
Services, L.P., its managing
general partner
By: Loral/QUALCOMM Partnership,
L.P., its general partner
By: Loral General Partner, Inc.,
its general partner
Date: November 20, 2000 By: /s/ Avi Katz
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Avi Katz
Vice President and Secretary
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EXHIBIT INDEX
Exhibit Description
Exhibit 10.1 Assignment, Amendment and Release Agreement dated as
of November 17, 2000 by and among the lenders parties
to the Globalstar Credit Agreement, Loral Satellite, Inc.,
Loral Satcom Ltd., Loral Space & Communications Ltd.,
Loral Space & Communications Corporation, Globalstar, L.P.
and Bank of America, National Association.
