Telesat Canada calls all remaining $454.14 million 11% notes due 2015

By Ashley Montgomery

Kansas City, Kan., May 18 - Telesat Canada will redeem $454,139,000 of its 11% senior notes due Nov. 1, 2015, according to a notice.

The notes will be redeemed June 14 at 105.5 plus accrued interest to the redemption date.

As previously reported, Telesat said noteholders had tendered $238.7 million, or 34.5%, of the 11% notes as of May 14, the consent date in a tender offer that ends May 25.

The company will pay $1,060 per $1,000 principal amount of notes tendered by the consent deadline plus accrued interest. This includes a $30 consent payment.

Bank of New York Mellon is the agent for the redemption.

Telesat is a fixed satellite services operator based in Ottawa.

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