Telesat US$500m 8.875% senior notes due 2024
With the new credit facilities, redeem the US$900m 6.0% senior notes due 2017, repay the existing credit facilities and fund a shareholder distribution
Key terms
- Borrower or issuer
- Telesat
- Date
- 17 Nov 2016
- Type
- Bond
- Amount
- US$500m
- Pricing
- 8.875%
- Maturity
- 2024-11-17
Recorded terms
- Structure
- Senior notes issued by Telesat Canada and Telesat LLC as co-issuer
- Country
- Canada
Parties
- Telesat borrower or issuer
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 23 Nov 2016 | SES €550m hybrid bonds (2016) | Bond | €550m |
| 27 Jul 2016 | Hughes Satellite Systems US$1,500m senior notes (2 tranches) | Bond | US$1.5bn |
| 31 Mar 2017 | ORBCOMM US$250m 8.0% senior secured notes due 2024 | Bond | US$250m |
| 16 Jun 2016 | Eutelsat €500m 1.125% bond due 2021 | Bond | €500m |
| 3 Jun 2016 | SES €750m 4.625% hybrid bonds (2016) | Bond | €750m |
More from Telesat
| Date | Financing | Type | Amount |
|---|---|---|---|
| 13 Sep 2024 | Telesat Lightspeed government loans (Canada and Quebec) | Government finance | C$2.54bn |
| 22 Nov 2019 | Telesat Canada 2019 refinancing | Bank facility | US$2.51bn |
| 17 Nov 2016 | Telesat US$2.63bn senior secured credit facilities (2016) | Bank facility | US$2.63bn |
M&A and investment involving Telesat
| Date | Deal | Type | Value |
|---|---|---|---|
| 19 Nov 2021 | Telesat and Loral combination (Telesat Corporation) | M&A | Not disclosed |
Sources
- Telesat Canada: closing of its refinancing transactions (Form 6-K exhibit 99.1) sec.gov · 17 Nov 2016
About this record
Record ORB-2016-0007, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
Senior notes are unsecured promises to pay, priced off government bonds; the prospectus sets the covenants, the change-of-control put and the redemption terms.
