...$700,000,000 in aggregate principal amount of 6.00 percent Senior Notes, which mature on May 15, 2017, pursuant to an indenture, dated as of May 14, 2012, by and among Telesat, Telesat LLC, as co-issuer, the guarantors named therein, and The Bank of New York Mellon, as trustee.
Pursuant to its previously announced tender offer and consent solicitation, the net proceeds of the offering were used to pay all holders of 11.0 percent Senior Notes due 2015 (the “Senior Notes”) issued under an indenture dated as of June 30, 2008 (the “2008 Indenture”) who validly tendered and did not withdraw such Senior Notes and delivered certain requisite consents to the 2008 Indenture prior to May 11, 2012 at 5:00 p.m., New York City time (the “Consent Date”) pursuant to Telesat’s Offer to Purchase and Consent Solicitation Statement dated April 30, 2012 and the related Consent and Letter of Transmittal. All such early tendering holders will receive total consideration of $1,060.00 per $1,000 principal amount of Senior Notes tendered, including $1,030.00 as the tender offer consideration and $30.00 as a consent payment (notwithstanding Telesat’s previously announced waiver of the consent condition to the tender offer and consent solicitation). In addition, Telesat will pay accrued interest up to (but excluding) May 14, 2012 for all Senior Notes validly tendered prior to the Consent Date. All remaining funds from the notes offering, together with cash on hand, will be used to fund the repurchase or redemption of those Senior Notes not already validly tendered and accepted for purchase pursuant to Telesat’s tender offer and consent solicitation.
This press release shall not constitute an offer to purchase or a solicitation of an offer to sell any securities. The tender offer and consent solicitation are being made only through, and subject to the terms and conditions set forth in, the Tender Offer Documents and related materials.
