Amendment to Intelsat Jackson Holdings S.A.’s Senior Secured Credit Agreement
On November 8, 2018, Intelsat S.A.’s indirect wholly-owned subsidiary, Intelsat Jackson Holdings S.A. (“Intelsat Jackson”), entered into Amendment No. 6 (the “Amendment No. 6”), among Intelsat Jackson, Intelsat Connect Finance S.A., the subsidiary guarantors party thereto, the lenders party thereto and Bank of America, N.A., as administrative agent, amending its senior secured Credit Agreement, dated as of January 12, 2011 (as amended, restated, supplemented or otherwise modified from time to time the “Credit Agreement” and, as amended by Amendment No. 6, the “Amended Credit Agreement”).
The Amendment No. 6 makes certain amendments to the covenants of the Credit Agreement, including but not limited to (a) removing the interest expense coverage ratio financial covenant, (b) amending the restricted payments and investment covenants to permit Intelsat Jackson to distribute funds to certain parent entities to allow them to make scheduled interest payments on, and repay principal at maturity of, existing indebtedness, and (c) amending the lien and asset sale covenants in connection with potential agreements not to use portions ofC-band spectrum.
The foregoing summary of the Amendment No. 6 is not complete and is qualified in its entirety by reference to the Amendment No. 6, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
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Exhibit Number | | Description |
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| 99.1 | | Amendment No. 6, dated as of November 8, 2018, among Intelsat Connect Finance S.A., Intelsat Jackson Holdings S.A., the subsidiary guarantors party thereto, Bank of America, N.A., as administrative agent, and the lenders party thereto |
