Luxembourg, October 15, 2010
Intelsat S.A. today announced the expiration and final results of the previously
announced cash tender offers (the “Tender Offers”) by its subsidiary, Intelsat
Corporation (“Intelsat Corp”), to purchase any and all of Intelsat Corp’s
outstanding 9¼% Senior Notes due 2014 (CUSIP No. 45823VAE1) (the “2014
Notes”) and Intelsat Corp’s outstanding 6⅞% Senior Secured Debentures due
2028 (CUSIP No. 697933AM1) (the “2028 Notes” and together with the 2014
Notes, the “Notes”) in each case on and subject to the terms and conditions set
forth in the related Offer to Purchase and Consent Solicitation Statement. The
Tender Offers expired at 11:59 p.m., New York City time, on Thursday, October
14, 2010.
Intelsat Corp has accepted for purchase all of the Notes validly tendered (and not
validly withdrawn) in the Tender Offers. The aggregate principal amount of the
2014 Notes validly tendered (and not validly withdrawn) pursuant to the Tender
Offer for the 2014 Notes was $546,286,000, representing approximately 83.0%
of the outstanding 2014 Notes. The aggregate principal amount of the 2028
Notes validly tendered (and not validly withdrawn) pursuant to the Tender Offer
for the 2028 Notes was $124,959,000, representing approximately 99.9% of the
outstanding 2028 Notes.
Intelsat Corp intends to fund the payment of the Notes purchased in the Tender
Offers primarily with cash contributed or loaned to it by Intelsat Corp’s indirect
parent, Intelsat Jackson Holdings S.A. Intelsat Corp will pay to Wells Fargo Bank,
National Association, as depositary for the tender offer for the 2014 Notes, and to
The Bank of New York Mellon Trust Company, N.A., as depositary for the tender
offer for the 2028 Notes, the total consideration payable to holders in the Tender
Offers, and will irrevocably instruct the applicable depositary to pay the validly
tendering holders the applicable tender offer consideration, including accrued and
unpaid interest on the accepted Notes from the last applicable interest payment
date to, but not including, the date of settlement.
Additional Information
Credit Suisse Securities (USA) LLC acted as the dealer manager and solicitation
agent for the tender offer relating to the 2014 Notes (the “2014 Tender Offer”)
and the consent solicitation relating to the 2014 Notes (the “2014 Consent
Solicitation”). Global Bondholder Services Corporation acted as the Information
Agent and Wells Fargo Bank, National Association acted as the Depositary for the
2014 Tender Offer and the 2014 Consent Solicitation. Questions regarding the
2014 Tender Offer and the 2014 Consent Solicitation should be directed to Credit
Suisse Securities (USA) LLC at (800) 820-1653 (toll-free) or (212) 538-2147
(collect). Requests for documentation should be directed to Global Bondholder
Services Corporation at (866) 470-4500 (toll-free) or (212) 430-3774 (collect).
Deutsche Bank Securities Inc. acted as the dealer manager and solicitation agent
for the tender offer relating to the 2028 Notes (the “2028 Tender Offer”) and the
consent solicitation relating to the 2028 Notes (the “2028 Consent Solicitation”
and together with the 2014 Consent Solicitation, the “Consent Solicitations”).
Global Bondholder Services Corporation acted as the Information Agent and The
Bank of New York Mellon Trust Company, N.A. acted as the Depositary for the
2028 Tender Offer and the 2028 Consent Solicitation. Questions regarding the
2028 Tender Offer and the 2028 Consent Solicitation should be directed to
Deutsche Bank Securities Inc. at (212) 250-5655. Requests for documentation
should be directed to Global Bondholder Services Corporation at (866) 470-4500
(toll-free) or (212) 430-3774 (collect).
This announcement is for informational purposes only. This announcement is not
an offer to purchase or a solicitation of an offer to purchase with respect to any
Notes. Each Tender Offer and Consent Solicitation was made solely pursuant to
the related Offer to Purchase and Consent Solicitation Statement and related
documents. The Tender Offers and the Consent Solicitations were not made to
holders of Notes in any jurisdiction in which the making or acceptance thereof
would not be in compliance with the securities, blue sky or other laws of such
jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require
the Tender Offers and the Consent Solicitations to be made by a licensed broker or
dealer, the Tender Offers and the Consent Solicitations was deemed to be made
on behalf of Intelsat Corp by the dealer manager, or one or more registered
brokers or dealers that are licensed under the laws of such jurisdiction.
About Intelsat
Intelsat is the leading provider of fixed satellite services worldwide. For over 45
years, Intelsat has been delivering information and entertainment for many of the
world’s leading media and network companies, multinational corporations,
Internet Service Providers and governmental agencies. Intelsat’s satellite, teleport
and fiber infrastructure is unmatched in the industry, setting the standard for
transmissions of video, data and voice services. From the globalization of content
and the proliferation of HD, to the expansion of cellular networks and broadband
access, with Intelsat, advanced communications anywhere in the world are closer,
by far.
Intelsat Safe Harbor Statement: Some of the statements in this news release constitute “forwardlooking
statements” that do not directly or exclusively relate to historical facts. The forwardlooking
statements made in this release reflect Intelsat’s intentions, plans, expectations,
assumptions and beliefs about future events and are subject to risks, including known and
unknown risks. Detailed information about some of the known risks is included in Intelsat’s annual
report on Form 10-K for the year ended 31 December 2009, Intelsat’s Registration Statement on
Form S-1 and Intelsat’s other periodic reports filed with the U.S. Securities and Exchange
Commission. Because actual results could differ materially from Intelsat’s intentions, plans,
expectations, assumptions and beliefs about the future, you are urged to view all forward-looking
statements contained in this news release with caution. Intelsat does not undertake any obligation
to update or revise any forward-looking statements, whether as a result of new information,
future events or otherwise.
