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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported:) August 11, 1999
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Iridium LLC
Delaware 0-22637-01 52-1984342
(State or other (Commission File Number) (I.R.S. Employer Identification
jurisdiction of Number)
organization)
1575 Eye Street, N.W., Washington, DC 20005
(202) 408-3800
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Iridium Operating LLC
Delaware 0-22637-02 52-2066319
(State or other (Commission File Number) (I.R.S. Employer Identification
jurisdiction of Number)
organization)
1575 Eye Street, N.W., Washington, DC 20005
(202) 408-3800
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Iridium World Communications Ltd.
Bermuda 0-22637 52-2025291
(State or other (Commission File Number) (I.R.S. Employer Identification
jurisdiction of Number)
organization)
Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda
(441) 295-5950
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Iridium Capital Corporation
Delaware 333-31741-03 52-2048739
(State or other (Commission File Number) (I.R.S. Employer Identification
jurisdiction of Number)
organization)
1575 Eye Street, N.W., Washington, DC 20005
(202) 408-3800
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Iridium IP LLC
Delaware 333-31741-01 52-2048736
(State or other (Commission File Number) (I.R.S. Employer Identification
jurisdiction of Number)
organization)
1575 Eye Street, N.W., Washington, DC 20005
(202) 408-3800
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Iridium Roaming LLC
Delaware 333-31741-02 52-2048734
(State or other (Commission File Number) (I.R.S. Employer Identification
jurisdiction of Number)
organization)
1575 Eye Street, N.W., Washington, DC 20005
(202) 408-3800
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Iridium Facilities Corporation
Delaware 33-44349-04 52-2083969
(State or other (Commission File Number) (I.R.S. Employer Identification
jurisdiction of Number)
organization)
1575 Eye Street, N.W., Washington, DC 20005
(202) 408-3800
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This current report on Form 8-K is filed jointly by Iridium LLC (the
"Parent"), Iridium Operating LLC ("Operating"), Iridium World Communications
Ltd. ("IWCL"), Iridium Capital Corporation ("Capital"), Iridium Roaming LLC
("Roaming"), Iridium IP LLC ("IP") and Iridium Facilities Corporation
("Facilities").
IWCL acts as a member of the Parent and has no other business.
Operating is a wholly owned subsidiary of the Parent. The business of Operating,
operating the Iridium system and offering Iridium services, constitutes
substantially all of the business of the Parent. Capital, Roaming, IP and
Facilities are wholly owned subsidiaries of Operating.
Item 5. Other Events
On August 11, 1999, Iridium LLC issued a press release, a copy of which
is attached hereto as Exhibit 99.1.
Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits
(c) The following exhibits are filed herewith.
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Exhibit Number Description
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99.1 Press Release dated August 11, 1999.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, each registrant has duly caused this report to be signed on its behalf by
the undersigned, hereunto duly authorized.
IRIDIUM WORLD COMMUNICATIONS LTD.
By_________/S/_________________
Name: F. Thomas Tuttle
Title: Secretary
IRIDIUM LLC
By________/S/__________________
Name: F. Thomas Tuttle
Title: Secretary
IRIDIUM OPERATING LLC
By___________/S/_______________
Name: F. Thomas Tuttle
Title: Secretary
IRIDIUM CAPITAL CORPORATION
By___________/S/_______________
Name: F. Thomas Tuttle
Title: Secretary
IRIDIUM IP LLC
By___________/S/_______________
Name: F. Thomas Tuttle
Title: acting secretary
IRIDIUM ROAMING LLC
By____________/S/______________
Name: F. Thomas Tuttle
Title: acting secretary
IRIDIUM FACILITIES CORPORATION
By_____________/S/_____________
Name: F. Thomas Tuttle
Title: Secretary
Date: August 12, 1999
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EXHIBIT 99.1
[IRIDIUM LETTERHEAD]
PRESS RELEASE
FOR IMMEDIATE RELEASE
August 11, 1999
IRIDIUM LLC BANK WAIVER EXPIRES,
COMPANY CONTINUES TO CONSIDER RESTRUCTURING OPTIONS
(NASDAQ; IRID)
WASHINGTON, D.C. - IRIDIUM LLC'S waiver of its customer and revenue covenants
under its $800 million Senior Secured Credit Facility expired today. An event of
default has occurred under this Secured credit Facility as well as its $750
million Guaranteed Credit Facility. Iridium LLC is continuing to consider
options for restructuring its capital structure.
Iridium LLC became the world's first global satellite phone and paging company
on November 1, 1998. Its network of 66-low earth orbiting satellites, combined
with existing terrestrial cellular systems, enables customers to communicate
around the globe. Iridium World Communications, Ltd. (NASDAQ: IRID) is the
public investment vehicle of Iridium LLC.
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Iridium is a registered trademark and service mark of Iridium IP LLC.
