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Intelsat Announces Amendment of Consent Solicitation

20 May 2013

Intelsat S.A. [NYSE: I], the world’s leading provider of satellite services, today announced that its subsidiary, Intelsat Jackson Holdings S.A. (“Intelsat Jackson”), is amending the terms of its previously announced solicitation of consents from holders of its 8½% Senior Notes due 2019 (the “2019 Jackson Notes”).

Holders of the 2019 Jackson Notes who validly consent to the Proposed Amendments on or prior to 5:00 p.m., New York City time, on May 20, 2013 (the “Expiration Time”), will now be eligible to receive a consent fee of $22.50 per $1,000 principal amount of 2019 Jackson Notes for which consents are received on or prior to the Expiration Time. All other terms of the consent solicitation remain unchanged.

Intelsat Jackson is soliciting consents from the holders of the 2019 Jackson Notes to amend the indenture governing the 2019 Jackson Notes so that Intelsat Jackson and its restricted subsidiaries would be permitted to make certain Restricted Payments (as defined in the indenture) if, after giving effect to such transaction on a pro forma basis, Intelsat Jackson’s Debt to Adjusted EBITDA Ratio (as defined in the indenture) would be less than or equal to 6.0 to 1.0, in each instance of such Restricted Payment, rather than 5.5 to 1.0 (the “Proposed Amendments”). The consent solicitation is subject to the terms and conditions set forth in Intelsat Jackson’s Consent Solicitation Statement, dated May 13, 2013 (the “Consent Solicitation Statement”).

The change in the amount of the consent fee may have important consequences regarding the United States Federal income taxation of U.S. Holders. See “United States Federal Income Taxation” in a Current Report on Form 8-K filed by Intelsat Investments S.A. prior to the Expiration Time and the section entitled “Where You Can Find More Information and Incorporation by Reference” in the Consent Solicitation Statement.

The record date to determine holders eligible to consent remains 5:00 p.m., New York City time, on May 10, 2013.

Intelsat Jackson’s acceptance of validly executed, delivered and unrevoked consents and payment of the applicable consent fee with respect to the 2019 Jackson Notes is conditioned upon, among other things, the receipt of the Requisite Consents (as defined below) on or prior to the Expiration Time. If all of the conditions to the consent solicitation are satisfied or waived, Intelsat Jackson will pay the consent fee to each holder of 2019 Jackson Notes who validly consented and did not revoke their consent on or prior to the Expiration Time.

No consent fee with respect to the 2019 Jackson Notes will be paid if the Requisite Consents are not received prior to the Expiration Time or if the consent solicitation is terminated for any reason. Intelsat Jackson reserves the right to terminate, withdraw or amend the consent solicitation at any time and from time to time, as described in the Consent Solicitation Statement.

Upon receipt of consents from holders of at least a majority in aggregate principal amount of the outstanding 2019 Jackson Notes on or prior to the Expiration Time, excluding any 2019 Jackson Notes owned by Intelsat Jackson or any of its affiliates (the “Requisite Consents”), Intelsat Jackson and the trustee under the indenture governing the 2019 Jackson Notes will execute a supplemental indenture giving effect to the Proposed Amendments. Except in certain limited circumstances, consents delivered pursuant to the consent solicitation may not be withdrawn or revoked after execution of the supplemental indenture.