Intelsat Jackson Holdings S.A. Senior Notes Issuance
On June 11, 2019, Intelsat Jackson Holdings S.A. (“Intelsat Jackson”), an indirect wholly-owned subsidiary of Intelsat S.A. (“Intelsat”), issued an additional $400,000,000 aggregate principal amount of 9.750% Senior Notes due 2025 (the “Notes”), at par, pursuant to an existing indenture dated July 5, 2017, between Intelsat Jackson, as issuer, the guarantors party thereto, and U.S. Bank National Association, as trustee (the “Indenture”).
Interest and Maturity. The Notes bear interest at a rate of 9.750% per annum. The Notes mature on July 15, 2025 unless earlier repurchased or redeemed.
Use of Proceeds. The net proceeds from the sale of the Notes are expected to be used by Intelsat Jackson for working capital and general corporate purposes, which may include, among other things, the funding of capital expenditures, future strategic transactions and repayment of our existing indebtedness.
Guarantees. The Notes are guaranteed by certain of Intelsat Jackson’s subsidiaries that guarantee its obligations under its senior secured credit facilities. In addition, the Notes are guaranteed by Intelsat, Intelsat Investment Holdings S.à r.l., Intelsat Holdings S.A., Intelsat Investments S.A., Intelsat (Luxembourg) S.A. and Intelsat Connect Finance S.A., which are direct or indirect parent companies of Intelsat Jackson (collectively, the “Parent Guarantors”). The guarantee of any Parent Guarantor may be unilaterally released in such Parent Guarantor’s discretion at any time without the consent of the holders of the Notes.
Security. The Notes are unsecured.
The foregoing summary is qualified in its entirety by reference to the Indenture, a copy of which is attached as Exhibit 99.1 to Intelsat’s Report on Form6-K furnished to the U.S. Securities and Exchange Commission on July 5, 2017.
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