Intelsat to redeem all $580.72 million senior notes due 2016 at par

By Toni Weeks

San Diego, Calif., Dec. 13 - Intelsat SA announced that its subsidiary Intelsat Corp. will redeem all $580,719,000 principal amount outstanding of its 9¼% senior notes due 2016.

The redemption will occur on Jan. 12, 2011, but may be postponed. It is conditional on Intelsat's receipt of sufficient cash.

Intelsat said in a news release that the redemption price will be the principal amount plus a premium that will be determined and accrued interest up to the redemption date.

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

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