Intelsat Jackson Amends Senior Secured Credit Agreement

MarineElectronics.com
Wednesday, November 27, 2013

Intelsat S.A., a provider of fixed satellite services, announced that Intelsat Jackson Holdings S.A., its indirect wholly-owned subsidiary, has amended its senior secured credit agreement, which governs its approximately $3.1 billion senior secured term loan facility and $500 million revolving credit facility, effective today.

Among other things, the amendment reduced the interest rates applicable to borrowings under the term loan facility and extended the maturity of the term loan facility. In addition, it also reduced the interest rates applicable to $450 million of the $500 million total revolving credit facility and extended the maturity of such portion.

As a result of the amendment, interest rates for borrowings under the term loan facility and the new tranche of the revolving credit facility will be either the LIBOR rate plus 2.75%, a reduction from the rate applicable prior to the amendment of the LIBOR rate plus 3.00%, or the ABR plus 1.75%, a reduction from the rate applicable prior to the amendment of the ABR plus 2.00%.

The LIBOR rate and the ABR applicable to the term loan facility and the new tranche of the revolving credit facility will be determined as specified in the credit agreement, and the LIBOR rate will not be less than 1.00% per annum, a reduction from the floor of 1.25% prior to the amendment.  The interest rates applicable to the $50 million tranche of the revolving credit facility that was not amended will remain the same.

In addition, the maturity date of the term loan facility was extended from April 2, 2018 to June 30, 2019 and the maturity date of the new $450 million tranche of the revolving credit facility was extended from January 12, 2016 to July 12, 2017.  The maturity date of the $50 million tranche of the revolving credit facility that was not amended will remain January 12, 2016.

All other material provisions, including covenants under the existing credit agreement, remain unchanged.

Bank of America Merrill Lynch, J.P. Morgan and Credit Suisse served as joint lead arrangers and joint book runners.  Barclays, Morgan Stanley, Deutsche Bank and Goldman Sachs served as joint book runners and HSBC served as manager.

intelsat.com
 

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Syncrude Uncertain about Plant Fire Affecting Production

The operator of Canada's largest synthetic crude project said on Saturday it is investigating the causes of an early morning fire at an upgrading plant. Firefighters extinguished the blaze,

Hurricane Ignacio Gains Strength but Expected to Bypass Hawaii

Hurricane Ignacio intensified as it blew across the Pacific on a route likely to bypass Hawaii on Saturday, said the Central Pacific Hurricane Center of the National Weather Service.

United Heavy Lift Gears up for the Asian Boom

All set to expand its footprint in the South Asian market significantly, Hamburg based, United Heavy Lift (UHL) appointed strategically placed Lexicon Overseas Pvt Ltd.

Finance

TASI Acquires SignalFire Telemetry

TASI HOLDINGS INC. announced today it has completed the acquisition of all shares of SignalFire Telemetry, located in Hudson, Massachusetts.  This new acquisition

DP World Profit Up 22%

Global marine terminal operator DP World today announced strong financial results from its global portfolio of marine terminals for the six months to 30 June 2015,

Med Crude-Russian Urals Edges Lower in Med, Baltic

Russian Urals crude weakened in the Mediterranean and in the Baltic on Friday, while trading activity was limited ahead of a long holiday weekend in Britain, traders said.

News

Syncrude Uncertain about Plant Fire Affecting Production

The operator of Canada's largest synthetic crude project said on Saturday it is investigating the causes of an early morning fire at an upgrading plant. Firefighters extinguished the blaze,

Hurricane Ignacio Gains Strength but Expected to Bypass Hawaii

Hurricane Ignacio intensified as it blew across the Pacific on a route likely to bypass Hawaii on Saturday, said the Central Pacific Hurricane Center of the National Weather Service.

United Heavy Lift Gears up for the Asian Boom

All set to expand its footprint in the South Asian market significantly, Hamburg based, United Heavy Lift (UHL) appointed strategically placed Lexicon Overseas Pvt Ltd.

SatCom

New Satcom Global Website in Oceania

Today, Satcom Global launched its Australian website, www.satcomglobal.com.au, which will offer a platform to better support our valued channel partners and customers in the region.

Inmarsat Fleet One - Satcom Global

Satcom Global has announced the launch of three new exclusive postpay voice and data bundles for the Inmarsat Fleet One service. Fleet One brings cost effective

INTELLIAN v60Ka, v100Ka Approved for THOR 7

Intellian, the leading provider of stabilized marine satellite antenna systems, has partnered with Telenor Satellite Broadcasting (TSBc) to deliver next generation

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 1.2132 sec (1 req/sec)