Intelsat calls floating-rate senior notes due 2013, 2015

By Devika Patel

Knoxville, Tenn., Jan. 9 - Intelsat, Ltd. said Intelsat (Bermuda), Ltd. will redeem all $260 million of its outstanding floating-rate senior notes due 2013 and $600 million floating-rate senior notes due 2015 on Feb. 7.

The redemption is contingent on the planned acquisition of Intelsat (Bermuda)'s indirect parent company, Intelsat Holdings, Ltd., in order for the company to have money to fund the redemption.

Intelsat (Bermuda) will redeem the 2013 notes at par plus a to-be-determined premium and interest to the redemption date. The 2015 notes will be redeemed at 102% of the principal amount plus interest to the redemption date.

Intelsat is a Pembroke, Bermuda, satellite services provider.

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