[Satellite TODAY 03-23-11] Intelsat subsidiary Intelsat Jackson Holdings is selling the operator’s $2.65 billion in senior debt due in 2019, 2021 and 2023 to refinance rates on its shorter-term debt, Intelsat announced March 21. 
    The operator said that part of the net proceeds from the debt sale would be contributed or loaned to Intelsat Jackson’s direct subsidiary, Intelsat Intermediate Holding Co. The subsidiary will use the funds and cash on hand to purchase any and all of its outstanding $625.3 million in 8.5 percent interest debt due in 2013 and $681 in 8.8 interest debt and $481 million in 9.5 percent interest debt due in 2015.
    The remainder of the net proceeds from the sale will be used to pay off the operator’s $55 million in 9.25 interest debt and $284.6 million in 11.5 interest debt due in 2016.