Morgan Stanley leading $854 million secondary offering of Intelsat 11½% PIK notes due 2017

By Paul A. Harris

Portland, Ore., April 8 - Dealer Morgan Stanley & Co. Inc. plans to market an $854 million secondary offering of Intelsat (Luxembourg) SA's 11½%/12½% senior PIK election notes due Feb. 4, 2017 to institutional investors during the week ahead, according to an informed source.

The Rule 144A for life notes originally priced in a $2.23 billion issue during June 2008.

The offering is being made on behalf of one of the sponsors, according to the source.

No proceeds will go to Intelsat.

The original issuer is a Luxembourg-based provider of fixed satellite services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.