Intelsat Announces Proposed Offering of Senior Notes
Intelsat Jackson’s obligations under the Notes will be guaranteed by
certain of Intelsat Jackson’s subsidiaries that guarantee its
obligations under its senior secured credit facilities, its 9.50% Senior
Secured Notes due 2022, and its 8.00% Senior Secured Notes due 2024. In
In connection with the offering of the Notes, Intelsat Jackson expects
to launch a tender offer for any and all of its outstanding 7.25% Senior
Notes due 2020 (the “2020 Senior Notes”),
which is expected to close substantially concurrently with the
consummation of the offering of the Notes. The consummation of the
tender offer is expected to be conditioned on, among other things, (i)
Intelsat Jackson having completed an offering of
Intelsat Jackson expects to use the net proceeds from the sale of the Notes to finance the tender offer and to fund the redemption of any 2020 Senior Notes not tendered in the tender offer. The remaining net proceeds of the Notes are expected to be used for general corporate purposes, including without limitation the redemption and/or repurchase (by way of open-market purchases, tender offers or otherwise) of a portion of Intelsat Jackson’s outstanding 7.50% Senior Notes due 2021 and/or other debt of Intelsat Jackson, and to pay related fees and expenses.
The Notes will be offered and sold to qualified institutional buyers in
accordance with Rule 144A under the Securities Act of 1933, as amended
(the “Securities Act”), and to persons
The Notes may therefore not be offered or sold in any such jurisdiction except pursuant to an exemption from, or in a transaction not subject to, the relevant requirements of laws and regulations of such jurisdictions.
No prospectus as required by the Directive 2003/71/EC (and the implementing laws and regulations in the relevant member states) has been filed with respect to the Notes and therefore no offers of Notes may be made in any Member States of the European Economic Area unless made pursuant to an exemption under the Directive 2003/71/EC (and the implementing laws and regulations in the relevant Member States).
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the Notes or any other securities of
Intelsat Safe Harbor Statement
Statements in this news release, including statements regarding the offering of the Notes, constitute “forward-looking statements” that do not directly or exclusively relate to historical facts. When used in this release, the words “may,” “will,” “might,” “should,” “expect,” “plan,” “anticipate,” “project,” “believe,” “estimate,” “predict,” “intend,” “potential,” “outlook,” and “continue,” and the negative of these terms, and other similar expressions are intended to identify forward-looking statements and information.
The forward-looking statements reflect Intelsat’s intentions, plans,
expectations, anticipations, projections, estimations, predictions,
outlook, assumptions and beliefs about future events and are subject to
risks, uncertainties and other factors, many of which are outside of
Intelsat’s control. Important factors that could cause actual results to
differ materially from the expectations expressed or implied in the
forward-looking statements include known and unknown risks. Known risks
include, among others, the risks described in Intelsat’s annual report
on Form 20-F for the year ended
Because actual results could differ materially from Intelsat’s
intentions, plans, expectations, anticipations, projections,
estimations, predictions, assumptions and beliefs about the future, you
are urged to view all forward-looking statements with caution.
Vice President, Investor Relations