Latest News
[Satellite TODAY 05-15-12] FSS operator Telesat has raised $238.7 million in capital from the recent sale of its 11 percent senior debt due in 2015, the company confirmed May 15.
Telesat announced that it waived a condition to its tender offer and consent solicitation that required at least a majority consent of shareholders to approve proposed amendments to the debt sale indenture. The operator also said it would pay accrued interest up to, but not including, the date of payment for all validly tendered senior notes accepted for early payment.
“Telesat has waived the consent condition and elected to exercise its right to accept for early payment all of the senior notes validly tendered prior to the consent date,” Telesat said in a company statement. “Each holder who validly tendered its senior notes and delivered consents to the proposed amendments prior to the consent date will receive the total consideration of $1,060 per $1,000 principal amount of senior notes tendered, which includes $1,030 as the tender offer consideration and $30 as a consent payment.”
Get the latest Via Satellite news!
Subscribe Now