Telesat to launch $2.38 billion credit facility on Thursday

By Sara Rosenberg

New York, Oct. 26 – Telesat is scheduled to hold a call on Thursday to launch a $2.38 billion credit facility, according to a market source.

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

The facility consists of a $200 million five-year revolver and a $2.18 billion seven-year term loan B, the source said.

Proceeds will be used to help refinance existing debt.

Telesat is an Ottawa-based fixed satellite services operator.

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