Telesat Holdings Announces Completion of the Redemption of Its Outstanding 12.5% Senior Subordinated Notes

 

May 1, 2013

 

Telesat Holdings (“Telesat”) announced today that its wholly-owned subsidiaries, Telesat Canada and Telesat LLC (the “Co-Issuers”), have completed the redemption of all of their outstanding 12.5% Senior Subordinated Notes due 2017 (the "Senior Subordinated Notes") issued under an indenture dated as of June 30, 2008. 

The total aggregate redemption price paid in respect of the $217.1 million principal amount of Senior Subordinated Notes that remained outstanding was approximately $230.7 million, including approximately $13.6 million in respect of the 6.25% call premium.  The Co-Issuers financed the redemption using cash-on-hand.