Intelsat Announces Successful Receipt of Requisite Consents

Press Release
Thursday, October 04, 2012

Intelsat Announces Successful Receipt of Requisite Consents Relating to Certain Notes of Intelsat Jackson Holdings S.A.  

Intelsat S.A., a provider of satellite services, has announced that its subsidiary, Intelsat Jackson Holdings S.A. ("Intelsat Jackson"), has received the requisite consents to amend certain terms of the indenture governing its 11 ¼% Senior Notes due 2016 (the "Notes") in connection with its previously announced Tender Offer and Consent Solicitation (each as defined below).  The amendments, among other things, amend the indenture governing the Notes to eliminate substantially all of the restrictive covenants, certain events of default and certain other provisions contained in that indenture.


As previously announced, on September 19, 2012, Intelsat Jackson commenced a tender offer to purchase for cash any and all of its outstanding $603,220,000 aggregate principal amount of Notes (the "Tender Offer").  In connection with the Tender Offer, Intelsat Jackson also solicited the consent of the holders of the Notes to the amendments described above (the "Consent Solicitation").    


The Tender Offer and Consent Solicitation are subject to the terms and conditions set forth in the Offer to Purchase and Consent Solicitation Statement, dated September 19, 2012, relating thereto (the "Offer to Purchase and Consent Solicitation Statement").


The withdrawal deadline relating to the Tender Offer occurred at 12:00 midnight, New York City time, on Tuesday, October 2, 2012 (the "Withdrawal Deadline").  Notes previously tendered and Notes that are tendered after the Withdrawal Deadline may not be withdrawn, except as required by law.  The Tender Offer is scheduled to expire at 12:00 midnight, New York City time, on Wednesday, October 17, 2012, unless extended or earlier terminated by Intelsat Jackson (the "Expiration Time").


As of 12:00 midnight, New York City time, on October 2, 2012 (the "Consent Time"), Intelsat Jackson has been advised by Global Bondholder Services Corporation, as Depositary for the Tender Offer and Consent Solicitation, that Notes were validly tendered and not withdrawn, and consents were delivered and not revoked, in respect of $442,302,000 in aggregate principal amount, or approximately 73.32%, of the outstanding $603,220,000 aggregate principal amount of Notes. As a result, 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.


Subject to the terms and conditions set forth in the Offer to Purchase and Consent Solicitation Statement, Intelsat Jackson will accept for purchase all Notes tendered and not withdrawn prior to the Withdrawal Deadline and intends to accept for purchase all Notes tendered after Withdrawal Deadline and prior to the Expiration Time.  


Intelsat Jackson has retained Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC to act as the joint dealer managers and joint solicitation agents (together, the "Dealer Managers") for the Tender Offer and Consent Solicitation. Global Bondholder Services Corporation is acting as the Information Agent and the Depositary for the Tender Offer and Consent Solicitation. Questions regarding the Tender Offer or Consent Solicitation should be directed to Morgan Stanley & Co. LLC at 1 (800) 624-1808 (toll-free) or 1 (212) 761-1057 (collect) or Credit Suisse Securities (USA) LLC at 1 (800) 820-1653 (toll-free) or 1 (212) 538-7249 (collect).  Requests for documentation should be directed to Global Bondholder Services Corporation at 1 (866) 470-3900 (toll-free) or 1 (212) 430-3774 (collect).

 

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

Technology

Aiming to Make Less Fuel Go Further: Maersk Drilling

Maersk Drilling says it is engaged in an energy efficiency project for its newbuilds together with Maersk Maritime Technology. The project involves an Energy Management System (MSPS),

TRIYARDS' Liftboat Orderbook Filling up

*This new order brings total liftboat contracts to date to 14, and showcases TRIYARDS’ engineering versatility * Win affirms TRIYARDS' leadership position as

Woodside Names LR Energy as Global Inspection Provider

Australia’s Woodside has signed on Lloyd’s Register Energy to act as its global inspection provider across a number of assets.Lloyd’s won the contract to provide surveillance inspection,

Contracts

RWE Dea Awarded Two New Concessions in Egypt

In the International Bid Round 2013, RWE Dea has been awarded two new offshore concessions with operatorship by the Egyptian General Petroleum Corporation (EGPC).

Woodside Names LR Energy as Global Inspection Provider

Australia’s Woodside has signed on Lloyd’s Register Energy to act as its global inspection provider across a number of assets.Lloyd’s won the contract to provide surveillance inspection,

Sacramento & Stockton Ship Channel Dredge Contract for Ross Sand & Gravel

The US Department of Defense inform that Ross Sand and Gravel, Portland, Oregon, has been awarded a US$24,000,000 firm-fixed-price contract for maintenance dredging

Finance

Aiming to Make Less Fuel Go Further: Maersk Drilling

Maersk Drilling says it is engaged in an energy efficiency project for its newbuilds together with Maersk Maritime Technology. The project involves an Energy Management System (MSPS),

Sound Oil Announce 2014 Interim Results

Sound Oil, the European / Mediterranean focused upstream oil and gas company, announced its unaudited interim results for the six months ended 30 June 2014.   Highlights   *

Tax Relief for Indian Seafarers

Indian seafarers serving on Indian flagged vessel are forced to pay income tax if their vessel touches two Indian ports during a voyage whereas Indians serving

Communication

Upcoming Expo 'Offshore Marintec Russia'

ExpoForum Convention and Exhibition Centre in St. Petersburg, October 7-10  will host the International Specialised Offshore Exhibition and Conference 'Offshore

iSURVEY Awarded Two-year Contract with Island Offshore

iSURVEY has been awarded a two-year contract with offshore vessel owner, Island Offshore Management, which will see iSURVEY AS provide positioning services to Island

Haze and Reduced Visibility at Singapore Ports

Due to the presence of haze, the Maritime & Port Authority of Singapore Port Marine in their Notice No.113 of 2014 dated 15 September 2014 have informed the

SatCom

Seasat Wins Contract from Maersk Supply Services

Seasat A/S, the Danish communications services provider, specialized in delivering reliable broadband, television and voice services for the maritime market announces

MN 100: KVH Industries, Inc.

50 Enterprise Center Middletown, RI 02842 Tel: (401) 851-3824 Email: jconnors@kvh.com Website: www.kvh.com President & CEO: Martin Kits van Heyningen   The

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Ship Simulators 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: 0.1533 sec (7 req/sec)