Telesat plans to redeem $500 million 8 7/8% notes with note proceeds

By Angela McDaniels

Tacoma, Wash., Sept. 27 – Telesat Canada and Telesat LLC plan to redeem their $500 million of 8 7/8% senior notes due Nov. 17, 2024, according to a company news release.

The notes become callable at 106.656 on Nov. 15.

The issuers will fund the redemption with cash on hand and proceeds from $550 million of 6½% senior notes due 2027 priced on Sept. 27.

Telesat Holdings Inc. is a satellite operator based in Ottawa.

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