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Intelsat has announced that it and a newly formed subsidiary are intending to issue new Senior Discount Notes due 2015. Subject to regulatory approvals of certain asset transfers between subsidiaries of Intelsat and consummation of those transfers, the net offering proceeds of approximately $300 million are expected to be used to fund the repurchase of certain preferred shares held by the shareholders of Intelsat's parent, Zeus Holdings Limited. If the required approvals are not received and the transfers are not completed within 90 days, the notes will be redeemed at 100% of their accreted value. The notes will accrete in value for the first five years, after which time noteholders will be paid cash interest on a semi-annual basis. Upon consummation of the offering, receipt of regulatory approvals and completion of the asset transfers, the new Senior Discount Notes will rank structurally subordinate to the existing debt of Intelsat (Bermuda), Ltd. and structurally senior to the existing debt of Intelsat, Ltd. The debt securities have not been registered under the Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under that Act. Related Links Intelsat SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express 
Satellite Radio And Nissan North America Announce Long-Term Agreement
Washington DC (SPX) Feb 02, 20053.2 million subscribers have announced that Nissan North America has chosen XM to supply satellite-delivered data and telematics services, such as in-vehicle messaging and XM NavTraffic, which delivers current traffic information to properly equipped Nissan and Infiniti vehicle navigation systems. |
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