Intelsat pricing $1 billion eight-year secured notes on Monday

By Paul A. Harris

Portland, Ore., March 21 – Intelsat Jackson Holdings SA plans to price a $1 billion offering of eight-year senior secured first-lien notes on Monday trailing a mid-morning conference call with investors, according to a syndicate source.

Goldman Sachs & Co. is the left bookrunner for the Rule 144A and Regulation S offering. Guggenheim Securities LLC is the joint bookrunner. J.P. Morgan Securities LLC is the co-manager.

The notes come with three years of call protection.

Intelsat Jackson plans to use the proceeds for general corporate purposes, which may include repayment or repurchase of Intelsat Jackson or Intelsat Luxembourg SA debt, including intercompany loans payable to Intelsat Luxembourg and its affiliates by Intelsat Jackson, and for working capital purposes.

Intelsat Jackson is a subsidiary of Intelsat Luxembourg. Both are subsidiaries of Intelsat SA, a Luxembourg-based provider of satellite services that operates out of McLean, Va.

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