Intelsat Jackson talks $640 million 10-year notes to yield 6½%-6¾%

By Paul A. Harris and Aleesia Forni

Columbus, Ohio, Sept. 19 - Intelsat Jackson Holdings SA has set talk on its proposed $640 million offering of senior notes due 2022 (expected ratings Caa2/CCC+) to yield 6½% to 6¾%, according to a market source.

Books close at 2 p.m. ET on Wednesday, and pricing is expected thereafter.

Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, Barclays, Bank of America Merrill Lynch, Goldman Sachs & Co., J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. are the joint bookrunners.

UBS Securities LLC, RBC Capital Markets LLC and HSBC Securities (USA) Inc. are the co-managers.

An investor call was held at 11 a.m. ET on Wednesday.

Proceeds will be used to fund the tender for $603.2 million of outstanding Intelsat Jackson notes due 2016, to redeem those notes not purchased in the tender and for general corporate purposes.

Intelsat is a Luxembourg-based provider of satellite services.

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