By Paul A. Harris
St. Louis, Sept. 16 - Intelsat Jackson Holdings SA priced an upsized $1 billion issue of 10-year senior notes (/B+/) at par to yield 7¼% on Thursday, according to an informed source.
The yield printed on top of the 7¼% area price talk.
Credit Suisse, Morgan Stanley, Barclays Capital and Deutsche Bank Securities were the joint bookrunners for the quick-to-market issue, which was upsized from $900 million.
Proceeds will be used to tender for the Intelsat Corp. notes due in 2014 and in 2028.
Intelsat is a Pembroke, Bermuda-based provider of fixed satellite services.
| Issuer: | Intelsat Jackson Holdings SA
|
| Amount: | $1 billion, increased from $900 million
|
| Maturity: | Oct. 15, 2020
|
| Securities: | Senior notes
|
| Bookrunners: | Credit Suisse, Morgan Stanley, Barclays Capital, Deutsche Bank Securities
|
| Coupon: | 7¼%
|
| Price: | Par
|
| Yield: | 7¼%
|
| Call protection: | Five years
|
| Trade date: | Sept. 16
|
| Settlement date: | Sept. 30
|
| Rating: | Standard & Poor's: B+
|
| Distribution: | Rule 144A with contingent registration rights
|
| Price talk: | 7¼% area
|
| Marketing: | Quick to market
|
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