On August 2, Intelsat S.A. (Intelsat) announced that its wholly-owned subsidiary Intelsat Connect Finance S.A. (Intelsat Connect) priced a private offering of $1.25b aggregate principal amount of 9.5% senior notes due 2023. Intelsat Connect plans to use the net proceeds from the offering toward redemption and discharge of Intelsat Connect’s outstanding $732m aggregate principal amount of 15.5% senior notes due 2022 and purchase of unsecured notes, including the 7.25% senior notes due 2020, of Intelsat subsidiary Intelsat Jackson Holdings S.A. Intelsat Connect’s obligations under the notes are guaranteed by Intelsat Envision Holdings LLC and Intelsat (Luxembourg) S.A., both of which are parent companies of Intelsat Connect and indirect wholly-owned subsidiaries of Intelsat.
Read more related news in Space Business Review August 2018.
