Intelsat S.A. (NYSE: I), operator of the world´s first Globalized Network and provider of integrated satellite communications, has announced that its indirect wholly owned subsidiary, Intelsat Jackson Holdings S.A. (“Intelsat Jackson”), has priced a private offering of an additional USD 700 million aggregate principal amount of its 8.500% senior notes due 2024 (the “Notes”), which is expected to be sold to investors at 100.75% of par plus accrued interest from September 19, 2018, the company said.
Intelsat Jackson intends to use the net proceeds from the sale of the additional Notes to fund the repurchase or redemption of all of Intelsat Jackson´s outstanding 7.50% Senior Notes due 2021 (the “2021 Senior Notes”) which are not redeemed or repurchased with the proceeds of the 8.500% senior notes due 2024 issued by Intelsat Jackson on September 19, 2018, and expects to discharge the 2021 Senior Notes in full. Intelsat Jackson expects to use any remaining net proceeds for general corporate purposes.
The offering of the Notes is expected to close on 16 October 2018, subject to customary conditions.
Intelsat combines the world´s largest satellite backbone with terrestrial infrastructure, managed services and an open, interoperable architecture to enable customers to drive revenue and reach through a new generation of network services.