Advanced Television

Intelsat swaps $400m of debt

January 6, 2017

By Chris Forrester

Satellite operator Intelsat has successfully exchanged some $403.3 million (€380.9m) of debt, due for repayment in 2018, for new higher interest-bearing Notes that will now fall due in 2024.

The $403 million accepted and re-issued represents 80.7 per cent of the 2018 debt (at 6.75 per cent) on offer.  The other remaining debt-holders have until January 19th to accept the terms on offer, and the offer will expire on January 20th.

The new 2024 Notes carry interest of 12.50 per cent.

Categories: Articles, Business, DTH/Satellite