Intelsat raises $640m

Satellite operator Intelsat is raising $640 million in senior debt due for repayment in 2022. The cash will be used to pay off older debt as part of the $603 million due in 2016. The balance will be used to fund other corporate activity.

The borrowings are made under its Intelsat Jackson Holdings subsidiary company. Morgan Stanley and Credit Suisse were the joint managers for the action.

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