Intelsat Jackson Receives Requisite Consents to Amend Certain Notes

MarineElectronics.com
Tuesday, May 21, 2013
Photo: Intelsat

Satellite service provider Intelsat S.A. announced that its subsidiary, Intelsat Jackson Holdings S.A., received the requisite consents to amend certain terms of the indenture governing its 8.5% senior notes due 2019 in connection with its previously announced consent solicitation.

The amendments, among other things, amend the indenture governing the notes so that Intelsat Jackson and its restricted subsidiaries would be permitted to make certain restricted payments (as defined in the indenture) if, after giving effect to such transaction on a pro forma basis, Intelsat Jackson’s Debt to Adjusted EBITDA Ratio (as defined in the indenture) would be less than or equal to 6 to 1, in each instance of such Restricted Payment, rather than 5.5 to 1.

As previously announced, on May 13, 2013, Intelsat Jackson solicited the consent of the holders of the notes to the amendments described above.

The consent solicitation is subject to the terms and conditions set forth in the consent solicitation statement, dated May 13, 2013, as modified by Intelsat’s press release of earlier today increasing the Consent Payment to $22.50.

As of 5 p.m., New York City time, on May 20, 2013, Intelsat Jackson has been advised by Global Bondholder Services Corporation, as depositary for the consent solicitation, that the requisite consent of noteholders was obtained, and Intelsat Jackson and Wells Fargo Bank, National Association, as trustee under the indenture governing the Notes, entered into a supplemental indenture implementing the amendments to the indenture governing the notes.

www.intelsat.com

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Euronav Books Profit from Sale of Chartered Ship

The owner of the 157,258 dwt containership Cap Isabella (built 2013), a vessel which Euronav had on bareboat charter, decided to sell the vessel to an unrelated third party.

Livanos Becomes Euronav Chairman

On 22 July 2014, the Board of Directors of Euronav NV unanimously appointed Peter G. Livanos as Chairman of the Board, with immediate effect in replacement of Marc

MN 100: Scania USA Inc.

121 Interpark Blvd. Ste. 1002 San Antonio, Texas 78216 Tel: (210) 679-3126  Email: smurdock@scaniausainc.com Website: www.scaniausa.com President & CEO:

Finance

Euronav Books Profit from Sale of Chartered Ship

The owner of the 157,258 dwt containership Cap Isabella (built 2013), a vessel which Euronav had on bareboat charter, decided to sell the vessel to an unrelated third party.

EU to Help Italy Cope with Boat Migrants

The European Commission said on Wednesday it would launch an EU version of Italy's sea rescue operation to help it deal with the droves of migrants crossing the

Governors Write Obama for Mississippi River Funding

Governors seek President Obama’s support for upper Mississippi River commercial navigation locks and ecosystem The Governors of the five Upper Mississippi River States of Illinois,

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.3523 sec (3 req/sec)