LUXEMBOURG--(BUSINESS WIRE)--Intelsat S.A. (NYSE: I), the world’s leading provider of satellite services, today announced that it intends to redeem all of the $500.0 million aggregate principal amount of the 81/2% Senior Notes due 2019 (the “Notes”) issued by its subsidiary, Intelsat Jackson Holdings S.A. (“Intelsat Jackson”).
Intelsat Jackson issued a notice of redemption pursuant to the indenture governing the Notes that it intends to redeem all of the Notes at a redemption price equal to 104.250% of the principal amount of the Notes, plus accrued and unpaid interest thereon, if any, to the redemption date on November 1, 2014, which will also serve as the record date for the redemption. Payment with respect to the redemption will be made on November 3, 2014. The redemption of the Notes is expected to be funded by general corporate funds.
Intelsat S.A. also affirmed its previously announced guidance that it expects to reduce indebtedness by approximately $475.0 million in 2014, inclusive of $24.0 million of amortization payments made over the course of the year under a credit facility related to a joint venture, and net of any revolver borrowings that may be outstanding at the end of 2014.
Intelsat S.A. (NYSE: I) is the world’s leading provider of satellite services, delivering high performance connectivity solutions for media, fixed and mobile broadband infrastructure, enterprise and government and military applications. Intelsat’s satellite, teleport and fiber infrastructure is unmatched in the industry, setting the standard for transmissions of video and broadband services. From the globalization of content and the proliferation of HD, to the expansion of cellular networks and mobile broadband access, Intelsat creates value for its customers through creative space-based solutions. Envision…Connect…Transform…with Intelsat. For more information, visit www.intelsat.com.