Stratos in loan talks with Inmarsat for refinancing of long-term debt

By Jennifer Chiou

New York, April 1 - Stratos Global Corp. announced that it has entered preliminary discussions with its parent company, Inmarsat plc, regarding a loan from Inmarsat.

Proceeds will be earmarked for the refinancing of Stratos' long-term debt, which includes $209.3 million under its senior secured term B facility and $150 million of senior unsecured notes as of Dec. 31.

Stratos said that if it is able to arrange financing from Inmarsat, it expects to prepay its term B loan and call its unsecured notes during the second quarter.

Questions may be directed to Paula M. McDonald (709 724-5227, paula.mcdonald@stratosglobal.com).

Stratos is a Bethesda, Md.-based provider of voice and data service to government and business customers.

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