Intelsat sets Monday launch for $1 billion unsecured term loan, floats price talk

By Sara Rosenberg and Paul A. Harris

New York, Jan. 4 - Intelsat Ltd. has scheduled a conference call for Monday to launch its proposed $1 billion senior unsecured term loan, and with timing firmed up, price talk on the deal has emerged, according to a market source.

The seven-year term loan is being talked at Libor plus 300 basis points with an original issue discount of 99.5, the source said.

Bank of America, Deutsche Bank, Credit Suisse and Morgan Stanley are the lead banks on the deal, with Bank of America the left lead.

Proceeds will be used to fund the redemption of Intelsat Subsidiary Holding Co., Ltd.'s $1 billion floating-rate senior notes due 2012.

The notes are expected to be redeemed on Feb. 2.

Intelsat is a Pembroke, Bermuda, provider of fixed satellite services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.