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Intelsat Announces Tender Offers and Consent Solicitations for Certain Notes of Intelsat Jackson Holdings S.A., Intelsat Intermediate Holding Company S.A. and Intelsat Subsidiary Holding Company S.A.
21 March 2011
Intelsat S.A. today announced that its subsidiary, Intelsat Jackson Holdings S.A. (“Intelsat Jackson”) has commenced tender offers and consent solicitations for two series of outstanding senior notes, its subsidiary, Intelsat Intermediate Holding Company S.A. (“Intermediate Holdco”) has commenced a tender offer and consent solicitation for one series of outstanding senior notes and its subsidiary, Intelsat Subsidiary Holding Company S.A. (“Intelsat Sub Holdco”) has commenced tender offers and consent solicitations for three series of outstanding senior notes. Each tender offer and consent solicitation is being made independently of the other offers and consent solicitations.
Intelsat Jackson’s tender offers (the “Intelsat Jackson Tender Offers”) to purchase for cash any and all of its outstanding $55.0 million aggregate principal amount of 9 1/4% Senior Notes due 2016 (the “9 1/4% Intelsat Jackson Notes”) and any and all of its outstanding $284.6 million aggregate principal amount of 11 1/2% Senior Notes due 2016 (the “11 1/2% Intelsat Jackson Notes”, and together with the 9 1/4 % Intelsat Jackson Notes, the “Intelsat Jackson Notes”) are subject to the terms and conditions set forth in the Offer to Purchase and Consent Solicitation Statement, dated March 21, 2011 relating thereto (the “Intelsat Jackson Offer to Purchase and Consent Solicitation Statement”).
In connection with the Intelsat Jackson Tender Offers, Intelsat Jackson is also soliciting the consent of the holders of the Intelsat Jackson Notes (the “Intelsat Jackson Consent Solicitations”) to certain proposed amendments to the indentures governing such notes, among other things, to eliminate substantially all of the restrictive covenants, certain events of default and certain other provisions contained in the applicable indentures.
Intermediate Holdco’s tender offer (the “Intermediate Holdco Tender Offer”) to purchase for cash any and all of its outstanding $481.0 million aggregate principal amount at maturity of 9 1/2% Senior Discount Notes due 2015 (the “Intermediate Holdco Notes”) is subject to the terms and conditions set forth in Intermediate Holdco’s Offer to Purchase and Consent Solicitation Statement dated March 21, 2011 relating thereto (the “Intermediate Holdco Offer to Purchase and Consent Solicitation Statement”).
In connection with the Intermediate Holdco Tender Offer, Intermediate Holdco is also soliciting the consent of the holders of the Intermediate Holdco Notes (the “Intermediate Holdco Consent Solicitation”) to certain proposed amendments to the indenture governing the Intermediate Holdco Notes, among other things, to eliminate substantially all of the restrictive covenants, certain events of default and certain other provisions contained in that indenture.
Intelsat Sub Holdco’s tender offers (the “Intelsat Sub Holdco Tender Offers”, and together with the Intelsat Jackson Tender Offers and the Intermediate Holdco Tender Offer, the “Tender Offers”) to purchase for cash any and all of its outstanding $625.3 million aggregate principal amount of 8 1/2% Senior Notes due 2013 (the “8 1/2% Intelsat Sub Holdco Notes”), any and all of its outstanding $681.0 million aggregate principal amount of 8 7/8% Senior Notes due 2015 (the “8 7/8 % Intelsat Sub Holdco Notes”) and any and all of its outstanding $400.0 million aggregate principal amount of 8 7/8% Senior Notes due 2015, Series B (the “8 7/8% Intelsat Sub Holdco Notes, Series B”, and together with the 8 1/2% Intelsat Sub Holdco Notes and the 8 7/8 % Intelsat Sub Holdco Notes, the “Intelsat Sub Holdco Notes”, and together with the Intelsat Jackson Notes and the Intermediate Holdco Notes, the “Notes”) are subject to the terms and conditions set forth in the Offer to Purchase and Consent Solicitation Statement, dated March 21, 2011 relating thereto (the “Intelsat Sub Holdco Offer to Purchase and Consent Solicitation Statement”, and together with the Intelsat Jackson Offer to Purchase and Consent Solicitation Statement and the Intermediate Holdco Offer to Purchase and Consent Solicitation Statement, the “Offers to Purchase and Consent Solicitation Statements”).
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