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Intelsat S.A. Announces Pricing Of Initial Public Offering Of Common Shares And Concurrent Public Offering Of Series A Mandatory Convertible Junior Non-Voting Preferred Shares


Thursday, 18 Apr 2013 06:22am EDT 

Intelsat S.A. announced the pricing of its Initial Public Offering of 19,323,672 common shares at a price of $18.00 per share and concurrent public offering of 3,000,000 Series A mandatory convertible junior non-voting preferred shares at a price of $50.00 per share. Total net proceeds from the offerings, after deducting the underwriting discounts and commissions and estimated offering expenses, is expected to be approximately $471.7 million. Total net proceeds from the offering of common shares, after deducting the underwriting discounts and commissions and estimated offering expenses, is expected to be approximately $328.8 million. Total net proceeds from the offering of Series A preferred shares, after deducting the underwriting discounts and commissions, is expected to be approximately $142.9 million. The Company intends to use substantially all of the net proceeds from the offerings to repay, redeem, retire or repurchase a portion of its outstanding indebtedness. Goldman, Sachs & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and BofA Merrill Lynch are acting as joint book-running managers, Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Nomura Securities International, Inc. and UBS Securities LLC are acting as book-runners and Evercore Group L.L.C., HSBC Securities (USA) Inc., RBC Capital Markets, LLC, LionTree Advisors LLC and Raymond James & Associates, Inc. are acting as co-managers for the offerings.