Intelsat S.A. Announces Amendment to Intelsat Jackson Holdings S.A. Senior Secured Credit Agreement
27 11월 2013 - 10:58PM
Business Wire
Intelsat S.A. (NYSE: I), the world’s leading provider of fixed
satellite services, today announced that Intelsat Jackson Holdings
S.A., its indirect wholly-owned subsidiary (“Intelsat Jackson”),
has amended its senior secured credit agreement, which governs its
approximately $3.1 billion senior secured term loan facility and
$500 million revolving credit facility, effective today.
Among other things, the amendment reduced the interest rates
applicable to borrowings under the term loan facility and extended
the maturity of the term loan facility. In addition, it also
reduced the interest rates applicable to $450 million of the $500
million total revolving credit facility and extended the maturity
of such portion.
As a result of the amendment, interest rates for borrowings
under the term loan facility and the new tranche of the revolving
credit facility will be either the LIBOR rate plus 2.75%, a
reduction from the rate applicable prior to the amendment of the
LIBOR rate plus 3.00%, or the ABR plus 1.75%, a reduction from the
rate applicable prior to the amendment of the ABR plus 2.00%.
The LIBOR rate and the ABR applicable to the term loan facility
and the new tranche of the revolving credit facility will be
determined as specified in the credit agreement, and the LIBOR rate
will not be less than 1.00% per annum, a reduction from the floor
of 1.25% prior to the amendment. The interest rates applicable to
the $50 million tranche of the revolving credit facility that was
not amended will remain the same.
In addition, the maturity date of the term loan facility was
extended from April 2, 2018 to June 30, 2019 and the maturity date
of the new $450 million tranche of the revolving credit facility
was extended from January 12, 2016 to July 12, 2017. The
maturity date of the $50 million tranche of the revolving credit
facility that was not amended will remain January 12, 2016.
All other material provisions, including covenants under the
existing credit agreement, remain unchanged.
Bank of America Merrill Lynch, J.P. Morgan and Credit Suisse
served as joint lead arrangers and joint book runners. Barclays,
Morgan Stanley, Deutsche Bank and Goldman Sachs served as joint
book runners and HSBC served as manager.
About Intelsat
Intelsat is the leading provider of fixed satellite services
worldwide. For over 45 years, Intelsat has been delivering
information and entertainment for many of the world’s leading media
and network companies, multinational corporations, Internet Service
Providers and governmental agencies. Intelsat’s satellite, teleport
and fiber infrastructure is unmatched in the industry, setting the
standard for transmissions of video, data and voice services. From
the globalization of content and the proliferation of HD, to the
expansion of cellular networks and broadband access, with Intelsat,
advanced communications anywhere in the world are closer, by
far.
Intelsat Safe Harbor Statement: Some of the statements in
this news release constitute "forward-looking statements" that do
not directly or exclusively relate to historical facts. The
forward-looking statements made in this release reflect Intelsat's
intentions, plans, expectations, assumptions and beliefs about
future events and are subject to risks, including known and unknown
risks. Detailed information about some of the known risks is
included in Intelsat's IPO prospectus dated April 17, 2013 and
Intelsat's other periodic reports filed with the U.S. Securities
and Exchange Commission. Because actual results could differ
materially from Intelsat's intentions, plans, expectations,
assumptions and beliefs about the future, you are urged to view all
forward-looking statements contained in this news release 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.
IntelsatDianne VanBeber,
+202-944-7406dianne.vanbeber@intelsat.com
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