| | “Early Tender Time”) will be eligible to receive total consideration of $1,039.17 per $1,000 principal amount of 9 1/2% Notes and $1,045.50 per $1,000 principal amount of 11 1/4% Notes, each of which includes an early tender payment of $30.00 per $1,000 principal amount of Notes tendered. Holders must validly tender and not validly withdraw their Notes, and have their Notes accepted for purchase in the applicable Tender Offer, at or prior to the Early Tender Time in order to be eligible to receive the total consideration, including the early tender payment. If the purchase of all validly tendered Notes of a series would cause us to purchase a principal amount greater than the applicable Tender Cap set forth above, then the relevant Tender Offer will be oversubscribed and Intelsat Jackson, if it accepts Notes in such Tender Offer, will accept for purchase tendered Notes on a prorated basis as described in the Offer to Purchase. The Tender Offers are scheduled to expire at 12:00 midnight, New York City Time, on Wednesday, May 9, 2012, unless extended or earlier terminated by Intelsat Jackson (the “Expiration Time”). Holders tendering their Notes after the Early Tender Time but before the Expiration Time will receive the tender offer consideration of $1,009.17 per $1,000 principal amount of 9 1/2% Notes tendered and $1,015.50 per $1,000 principal amount of 11 1/4% Notes tendered, subject to the applicable Tender Cap and any required proration with respect to each series of Notes as described in the Offer to Purchase. Upon the terms and conditions described in the Offer to Purchase, payment for Notes accepted for purchase will be made: (1) with respect to the Notes validly tendered and not validly withdrawn at or prior to the Early Tender Time, and subject to the Tender Cap and any required proration with respect to each series of Notes, promptly after such acceptance for purchase (which is currently expected to be Thursday, April 26, 2012, unless the Early Tender Time is extended), and (2) with respect to Notes validly tendered after the Early Tender Time but at or before the Expiration Time, and subject to the Tender Cap and any required proration with respect to each series of Notes, promptly after the Expiration Time (which is currently expected to be Thursday, May 10, 2012, unless the applicable tender offer is extended). Holders whose Notes are accepted for purchase will receive accrued and unpaid interest from the last interest payment date to, but not including, the date on which such Notes are purchased. Tendered Notes may be withdrawn at any time on or prior to 5:00 p.m., New York City time, on Wednesday, April 25, 2012, unless extended by Intelsat Jackson for each series (the “Withdrawal Deadline”). Holders of Notes who tender their Notes after the Withdrawal Deadline, but on or prior to the Expiration Time, may not withdraw their tendered Notes. |
