Intelsat Announces Proposed Redemption of Intelsat S.A. 7 5/8% Senior Notes due 2012 and Partial Redemption of Intelsat Subsidiary Holding Company S.A. 8 1/2% Senior Notes due 2013
Luxembourg, February 16, 2011 Intelsat S.A. today announced that it intends to redeem all of the $485,841,000 aggregate principal amount outstanding of its 7 5/8% Senior Notes due 2012 (the “2012 Notes”) and that its subsidiary, Intelsat Subsidiary Holding Company S.A. (“Intelsat Sub Holdco”), intends to redeem $225,000,000 aggregate principal amount of its 8 1/2% Senior Notes due 2013 (the “2013 Notes”). The redemptions will be funded with cash on hand, primarily from the excess proceeds of the debt refinancing transactions entered into by Intelsat Jackson Holdings S.A. in September 2010 and January 2011.
Intelsat S.A. has issued a notice of redemption pursuant to the indenture for the 2012 Notes stating that it intends to redeem all of the 2012 Notes on March 18, 2011, or such later date to which such redemption may be extended by Intelsat S.A. in its sole discretion (such date, as it may be extended, the “2012 Notes Redemption Date”). The redemption price for the 2012 Notes will be determined in accordance with the indenture for the 2012 Notes plus accrued and unpaid interest thereon to the 2012 Notes Redemption Date.
Intelsat Sub Holdco has issued a notice of partial redemption pursuant to the indenture for the 2013 Notes stating that it intends to redeem $225,000,000 aggregate principal amount of the 2013 Notes on March 18, 2011, or such later date to which such redemption may be extended by Intelsat Sub Holdco in its sole discretion (such date, as it may be extended, the “2013 Notes Redemption Date”). The redemption price for the 2013 Notes will be equal to 100% of the principal amount of the 2013 Notes plus accrued and unpaid interest thereon to the 2013 Notes Redemption Date. In accordance with the indenture for the 2013 Notes, selection of the 2013 Notes for redemption will be made by the trustee for the 2013 Notes on a pro rata basis. Intelsat expects that, after the partial redemption of the 2013 Notes, approximately $625 million aggregate principal amount of the 2013 Notes will be outstanding.
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 “forward-looking statements” that do not directly or exclusively relate to historical facts. The forward-looking 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.
This email was sent to: email@example.com
This email was sent by: Intelsat Corporation 3400 International Drive, NW Washington, DC 20008-3006 USA