Investors Give $2.35B Intelsat Loan Mixed Reviews

Kellerhals, Richard
December 2010
High Yield Report;12/13/2010, Vol. 21 Issue 50, p18
The article reports that Bank of America Merrill Lynch, Credit Suisse and JPMorgan have launched marketing of a 2.35 billion U.S. dollar term loan B for Intelsat Jackson Holdings in December 2010. A mixed review from investors has been reportedly received by the deal, with some saying it is priced well, while others say it is over-levered. The satellite-telecommunications operator will use the proceeds from the term loan, along with a 500 million U.S. dollars revolver, to refinance existing debt.


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