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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE MONTH OF SEPTEMBER 2003
Commission File No. 333-8880
SATELITES MEXICANOS, S.A. de C.V.
Blvd. M. Avila Camacho No. 40
Col. Lomas de Chapultepec
11000 Mexico, D.F.
Mexico
(52) 55-5201-0800
The registrant files annual reports under cover of Form 20-F.
The registrant is not furnishing the information contained in this form to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
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As previously reported, Satelites Mexicanos, S.A. de C.V. ("Satmex") did
not make the August 1, 2003 interest payment on its 10 1/8% Senior Notes due
2004 (the "Fixed Rate Notes"). The amount of the interest payment due was $16.2
million. The 30-day cure period has expired and, as a result, an Event of
Default as defined in the Fixed Rate Note indenture has occurred. Satmex did not
pay the interest payment in order to conserve cash to supplement payments
necessary for the insurance and launch of its new Satmex 6 satellite. The launch
is scheduled for later this year.
Satmex is negotiating with the Fixed Rate Note investors regarding a debt
restructuring plan. To that effect, Satmex filed a registration statement with
the U.S. Securities and Exchange Commission (the "SEC") relating to a proposed
exchange offer for the Fixed Rate Notes on July 21, 2003. Satmex also continues
to work toward the completion of the financing of the Satmex 6 satellite with
the U.S. and French Export Credit Agencies.
As described above, a registration statement relating to the new fixed
rate notes to be issued in the exchange offer has been filed with the SEC but
has not become effective. These securities may not be sold nor may offers to buy
be accepted prior to the time the registration statement becomes effective and
Satmex has obtained the necessary authorizations from the Comision Nacional
Bancaria y de Valores de Mexico. This announcement shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or in Mexico in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state or of Mexico.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
SATELITES MEXICANOS, S.A. de C.V.
By: /s/ Cynthia Pelini
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Cynthia Pelini
Chief Financial Officer
Date: September 2, 2003
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