Intelsat S.A. (NYSE: I) (“Intelsat”), operator of the world’s first
Globalized Network and leader in integrated satellite
communications, today announced that its indirect wholly-owned
subsidiary, Intelsat Connect Finance S.A. (“Intelsat Connect”), has priced a private offering
of its 9.50% senior notes due 2023 (the “Notes”). The aggregate principal amount of the
Notes to be issued in the offering has been increased from an
initially contemplated $1.0 billion to $1.25 billion.
Intelsat Connect expects to use the net proceeds from the sale
of the Notes and other available cash to fund the redemption and
discharge of all $732 million principal amount of Intelsat
Connect’s outstanding 12.50% Senior Notes due 2022 (the
“2022 Senior Notes”) and/or to fund
any private transactions to purchase and cancel the 2022 Senior
Notes, to directly or through its subsidiaries purchase 7.25%
Senior Notes due 2020 of, and other unsecured notes of, Intelsat
Jackson Holdings S.A., to pay related fees and expenses, and any
remainder for general corporate purposes.
The Intelsat Connect obligations under the notes will be
guaranteed by Intelsat Envision Holdings LLC and Intelsat
(Luxembourg) S.A., which are indirect wholly-owned subsidiaries of
Intelsat and direct or indirect parent companies of Intelsat
Connect.
The offering of the Notes is expected to close on 16 August
2018, subject to customary conditions.
The Notes referred to above will be offered and sold to
qualified institutional buyers in accordance with Rule 144A under
the Securities Act of 1933, as amended (the “Securities Act”), and to persons outside the
United States in accordance with Regulation S under the Securities
Act and applicable exemptions from registration, prospectus or like
requirements under the laws and regulations of the relevant
jurisdictions outside the United States. The Notes will not be
registered under the Securities Act and, unless so registered, may
not be offered or sold in the United States except pursuant to an
exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and applicable
state securities laws. The Notes referred to above will also not be
registered in any jurisdiction outside of the United States and no
action or steps will be taken to permit the offer of the Notes in
any such jurisdiction where any registration or other action or
steps would be required to permit an offer of the Notes.
The Notes may therefore not be offered or sold in any such
jurisdiction except pursuant to an exemption from, or in a
transaction not subject to, the relevant requirements of laws and
regulations of such jurisdictions.
No prospectus as required by the Directive 2003/71/EC (and the
implementing laws and regulations in the relevant member states)
has been filed with respect to the Notes and therefore no offers of
Notes may be made in any Member States of the European Economic
Area unless made pursuant to an exemption under the Directive
2003/71/EC (and the implementing laws and regulations in the
relevant Member States).
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the Notes or any other securities
of Intelsat or its subsidiaries, nor will there be any offer,
solicitation or sale of the Notes in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful.
About Intelsat
Intelsat S.A. (NYSE: I) operates the world’s first Globalized
Network, delivering high-quality, cost-effective video and
broadband services anywhere in the world. Intelsat’s Globalized
Network combines the world’s largest satellite backbone with
terrestrial infrastructure, managed services and an open,
interoperable architecture to enable customers to drive revenue and
reach through a new generation of network services. Thousands of
organizations serving billions of people worldwide rely on Intelsat
to provide ubiquitous broadband connectivity, multi-format video
broadcasting, secure satellite communications and seamless mobility
services. The end result is an entirely new world, one that allows
us to envision the impossible, connect without boundaries and
transform the ways in which we live. For more information, visit
www.intelsat.com.
Intelsat Safe Harbor Statement
Statements in this news release, including statements regarding
the note offering, constitute “forward-looking statements” that do
not directly or exclusively relate to historical facts. When used
in this release, the words “may,” “will,” “might,” “should,”
“expect,” “plan,” “anticipate,” “project,” “believe,” “estimate,”
“predict,” “intend,” “potential,” “outlook,” and “continue,” and
the negative of these terms, and other similar expressions are
intended to identify forward-looking statements and
information.
The forward-looking statements reflect Intelsat’s intentions,
plans, expectations, anticipations, projections, estimations,
predictions, outlook, assumptions and beliefs about future events
and are subject to risks, uncertainties and other factors, many of
which are outside of Intelsat’s control. Important factors that
could cause actual results to differ materially from the
expectations expressed or implied in the forward-looking statements
include known and unknown risks. Known risks include, among others,
the risks described in Intelsat’s annual report on Form 20-F for
the year ended December 31, 2017, and its other filings with the
U.S. Securities and Exchange Commission and risks and uncertainties
related to our ability to consummate the note offering.
Because actual results could differ materially from Intelsat’s
intentions, plans, expectations, anticipations, projections,
estimations, predictions, assumptions and beliefs about the future,
you are urged to view all forward-looking statements with caution.
Intelsat does not undertake any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20180802006003/en/
IntelsatDianne VanBeberVice President, Investor
Relations+1-703-559-7406 (o)+1-703-627-5100
(m)dianne.vanbeber@intelsat.com
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