[May 22, 2013] Intelsat Jackson Holdings prices $2635 million private placement of senior notes Tweet May 22, 2013 (Datamonitor Financial Deals Tracker via COMTEX) -- Intelsat Jackson Holdings S.A., a subsidiary of Intelsat S.A., has priced its private placement of $2,000 million aggregate principal amount of 5 1/2% senior notes due 2023 at an offering price of 100% and $635 million aggregate principal amount of 6 5/8% senior notes due 2022 at an offering price of 106.25%. Intelsat Jackson is a Luxembourg-based provider of satellite and communications services, while Intelsat S.A. is a Bermuda-based provider of fixed satellite services to telecommunications companies. Intelsat Jackson had commenced the private offering earlier on the same day to raise $2,000 million in an aggregate principal amount of senior notes due 2023, and $635 million aggregate principal amount of its 65/8% senior notes due 2022. Intelsat Jackson's obligations under the notes will be guaranteed by Intelsat S.A. and its subsidiary companies. The notes offering is expected to close on June 5, 2013. Deal Value (US$ Million) 2635 Deal Type Private Placement Sub-Category None Deal Status Announced: 2013-05-21 Deal Participants Target (Company) Intelsat Jackson Holdings S.A. (Intelsat Jackson Holdings, Ltd.) Acquirer (Company) Undisclosed Investors* Deal Rationale Intelsat Jackson intends to use the net proceeds from the sale of the notes, together with other available cash, to make a dividend to Intelsat (Luxembourg) S.A., which will use such funds to redeem all of its 111/4% senior notes due 2017 in its previously announced redemption on June 12, 2013. The remaining net proceeds are expected to be used to pay related fees and expenses and for general corporate purposes. [ Back To TMCnet.com's Homepage ]