Examples of Intelsat Sub Holdco in a sentence
Ltd., or Intelsat Sub Holdco, and its subsidiaries are the entities that conduct Intelsat’s operations.
The amounts shown here do not reflect Intelsat, Ltd.’s obligations as co-obligor of the discount notes or its guarantees of the debt of Intelsat Bermuda or Intelsat Sub Holdco.
The Refinancing Notes are not guaranteed by any of Intelsat Bermuda’s direct or indirect subsidiaries.Separate financial statements of Intelsat, Ltd., Intelsat Bermuda, Intermediate Holdco, Intelsat Sub Holdco (an indirect subsidiary of Intelsat Bermuda) and the Subsidiary Guarantors are not presented because management believes that such financial statements would not be material to investors.
On March 3, 2005, Intelsat Bermuda transferred substantially all of its assets to Intelsat Sub Holdco and Intelsat Sub Holdco assumed substantially all of the then-existing liabilities of IntelsatBermuda.
Pursuant to the MFA, Intelsat Sub Holdco is obligated to pay an annual fee equal to the greater of $6,250 and 1.25% of adjusted EBITDA (as defined in the indenture governing the $1,000,000 of Floating Rate Senior Notes due 2012, the $875,000 of 8 1/4% Senior Notes due 2013 and the $675,000 of 8 5/8% Senior Notes due 2015, referred to collectively as the acquisition finance notes), and to reimburse the MFA parties for their out-of-pocket expenses.
Borrowings under the New Intelsat Bermuda Unsecured Credit Agreement will be guaranteed by Intelsat, Ltd., Intelsat Sub Holdco and all of Intelsat Sub Holdco’s subsidiaries that guarantee the 2006 Guaranteed Notes.
The issuance of the Refinancing Notes, the amendments to Intelsat Sub Holdco and Intelsat Corp’s credit agreements, the borrowing under the Intelsat Bermuda Unsecured Credit Agreement and the related repayment of Intelsat Bermuda’s Senior Unsecured Bridge Loan and redemption of Intelsat Sub Holdco’s$1.0 billion Floating Rate Senior Notes due 2012 are referred to collectively as the Refinancings.
In March 2011, we redeemed $710.8 million of Intelsat S.A. and Intelsat Sub Holdco debt for $747.6 million, excluding accrued and unpaid interest of $19.1 million (see Item 5B—Liquidity and Capital Resources—Long-Term Debt—2011 Reorganization and 2011 Debt Transactions—Notes Redemptions).
In addition, on January 3, 2007, Intelsat Sub Holdco notified holders of its $1.0 billion Floating Rate Senior Notes due 2012 that it intends to redeem all such notes on February 2, 2007.
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