Intelsat S.A. (NYSE: I) indirect wholly owned subsidiary Intelsat Jackson Holdings S.A., has priced a private offering of USD 1.5 billion aggregate principal amount of Senior Notes due 2025, the company said.
The Notes are unsecured and will bear interest at a rate of 9.750% per annum.
The net proceeds are expected to be used by Intelsat Jackson, along with other available cash, to fund the redemption of all USD 1.5 billion aggregate principal amount of Intelsat Jackson´s outstanding 7.25% Senior Notes due 2019 and to pay related fees and expenses.
The offering of the Notes is expected to close on July 5, 2017, subject to customary closing conditions.
Intelsat S.A. (NYSE: I) operates a globalized network, powered by its satellite backbone, delivering high-quality, cost-effective video and broadband services anywhere in the world.