Intelsat repurchases $180,000 of 9% notes

By Laura Lutz

Des Moines, Sept. 29 - Intelsat Corp. completed the repurchase of $180,000 principal amount of its outstanding 9% senior notes due 2014 on Sept. 29.

The company initiated the repurchase after the July 3 completion of the acquisition of Intelsat Holding Corp., formerly known as PanAmSat Holding Corp., by Intelsat (Bermuda), Ltd., a subsidiary of Intelsat, Ltd. The acquisition was a change of control under the note indenture.

Intelsat paid 101% of the principal amount, plus accrued interest, for the notes.

Intelsat is a Pembroke, Bermuda, provider of fixed satellite services.

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