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Intelsat calls its 11¼% cash pay, 11½%/12½% PIK election notes
By Tali David
Minneapolis, March 21 - Intelsat (Luxembourg) SA issued a notice of redemption for its 11¼% senior cash pay notes due 2017 and its 111/2/12½% senior PIK election notes due 2017, according to an 8-K filed with the Securities and Exchange Commission.
The company will redeem $754.8 million of its senior cash pay notes at 105.625 plus accrued interest and about $1,558,000,000 of the PIK notes at 105.75 plus accrued interest on April 20.
The redemptions are conditioned on the completion of one of more debt financings prior to the redemption date in an amount sufficient to redeem the notes.
Intelsat is a Luxembourg-based provider of satellite services.
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