Luxembourg, 20 January 2017 – Intelsat S.A. (NYSE: I), operator of the world’s first Globalized Network, powered by its leading satellite backbone, today announced the final results for the previously announced private offer by Intelsat (Luxembourg) S.A. (“Intelsat Luxembourg”) to exchange (the “Exchange Offer”) certain of its outstanding notes.
- On December 20, 2016, Intelsat Luxembourg offered to exchange its 6.75% Senior Notes due 2018 (the “2018 Notes”) for the newly issued 12.50% Senior Notes due 2024 of Intelsat Luxembourg (the “2024 Notes”).
- On January 6, 2017, tenders from holders of approximately $403.3 million of outstanding 2018 Notes were accepted for purchase in the Exchange Offer. Of the amount tendered and accepted for purchase, Intelsat Luxembourg’s wholly-owned subsidiary, Intelsat Connect Finance S.A. (“ICF”), accounted for approximately $402.6 million principal amount of the 2018 Notes.
- After January 6, 2017 and before the expiration of the Exchange Offer, tenders from holders of approximately $25,000 of outstanding 2018 Notes were received and are expected to be accepted for purchase in the Exchange Offer. Of the amount tendered and expected to be accepted for purchase, ICF accounted for all $25,000 principal amount of the 2018 Notes.