Intelsat Looks to Raise $500 Million
October 16, 2009 | Staff Writer
Intelsat is looking to raise $500 million by selling 8.5 percent senior notes due 2019 at an issue price of 99.166 percent, the company announced Oct. 14.
The net proceeds of the notes will be used to fund Intelsatís purchase of abou $400 million of the companyís outstanding 11.5 and 12.5 percent senior PIK election notes due 2017 along with related fees and expenses and general corporate purposes.
The offering is expected to close on Oct. 20.