Intelsat takes in tenders for $1.72 billion 7¼% notes via new issue

By Susanna Moon

Chicago, Sept. 21 – Intelsat SA said subsidiary Intelsat Jackson Holdings SA accepted for purchase all of the tendered $1,723,269,000 7¼% senior notes due 2020.

The company was tendering for its $1,751,119,000 outstanding 7¼% notes until 5 p.m. ET on Sept. 14, according to a company notice.

Settlement occurred on Sept. 19.

To fund the offer, Intelsat Jackson used some proceeds from its 8½% senior notes due 2024, which also closed on Sept. 19.

The company announced plans for the tender on Sept. 5, with the offer to be held in connection with Intelsat Jackson’s plans to price $2 billion principal amount of senior notes due 2024 under Rule 144A and Regulation S, and the tender is contingent on issue of the new notes.

At the same time that it began the tender, Intelsat Jackson expected to issue a conditional notice to redeem the 2020 notes on Oct. 15, the release said.

Intelsat is a Luxembourg-based communications satellite services provider.

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