Telesat repricing $2.4 billion term loan B to Libor plus 300 bps

By Sara Rosenberg

New York, Jan. 31 – Telesat Canada completed syndication of the repricing of its $2.4 billion term loan B at pricing of Libor plus 300 basis points with a 0.75% Libor floor and an original issue discount of 99.875, according to a market source.

The term loan has 101 soft call protection for one year, the source said.

J.P. Morgan Securities LLC is the lead bank on the deal.

The repricing takes the term loan down from Libor plus 375 bps with a 0.75% Libor floor.

Telesat is an Ottawa-based fixed satellite services operator.

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