NEW YORK – February 27, 2007 – Loral Space & Communications (NASDAQ: LORL) today announced that it has completed its sale of $300 million of convertible perpetual preferred stock to affiliates of MHR Fund Management LLC (“MHR”), Loral’s largest shareholder.
The agreement was originally reached in October 2006 and calls for the purchase of $41 million and $259 million of new Loral Space & Communications Inc. 7
