Intelsat announces conversion rate for 5.75% series A preferreds

By Wendy Van Sickle

Columbus, Ohio, April 27 – Intelsat SA said the conversion rate for its 3.45 million 5.75% series A mandatory convertible junior non-voting preferred shares has been set.

On May 1, each of the series A preferred shares will convert into 2.7778 shares of the company’s common stock, based on the average closing share price of the stock over the 40 consecutive trading days ended April 27, according to a press release.

Intelsat is a McLean, Va.-based provider of satellite services.

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