June 2018

Space Business Review June 2018

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On June 11, Intelsat S.A. (Intelsat) announced that it priced an offering of 13,477,089 common shares at $14.84 per common share, subject to an option for the issuance of an additional 2,021,563 common shares, and an offering of $350m aggregate principal amount of 4.5% convertible senior notes due 2025, subject to an option for the purchase of an additional $52.5m aggregate principal amount of notes. Intelsat stated that it plans to loan and/or contribute all or some of the net proceeds from both offerings to Intelsat Envision Holdings LLC, a new wholly-owned subsidiary of Intelsat (Luxembourg) S.A., which will become the direct parent company of Intelsat Connect Finance S.A. and will guarantee the new notes, and to use such net proceeds to purchase Intelsat (Luxembourg) S.A.’s 7.75% senior notes due 2021. 

Read more related news in Space Business Review June 2018.