LUXEMBOURG–(BUSINESS WIRE)–Intelsat S.A. (NYSE:I) (“Intelsat”) today appear that the ahead appear (i) action or offers to barter (collectively, the “Exchange Offers”) assertive of the corresponding outstanding chief apart addendum (the “Existing Notes”) issued by its aberrant wholly-owned subsidiaries, Intelsat Jackson Holdings S.A., Intelsat Affix Finance S.A., and Intelsat (Luxembourg) S.A. (collectively, the “Issuers”) and (ii) address or solicitations of consents (collectively, the “Consent Solicitations”) to alter the indentures administering the Existing Addendum asleep pursuant to their acceding at 12:00 midnight, New York City time, on May 31, 2017. As of the cessation date, the minimum breakable altitude for the Barter Offers and Consent Solicitations had not been satisfied. The Issuers acquire not accustomed any of the Existing Addendum for exchange, any Existing Addendum tendered for barter will be promptly alternate to holders, and the Barter Offers and Consent Solicitations acquire appropriately been terminated.
The Barter Offers and Consent Solicitations were conducted pursuant to the Combination Agreement, anachronous as of February 28, 2017 (as adapted by that assertive Aboriginal Amendment to and Waiver Relating to the Combination Agreement, anachronous May 17, 2017, the “Combination Agreement”), amid Intelsat and WorldVu Satellites Limited (“OneWeb”), pursuant to which Intelsat and OneWeb would amalgamate through a merger, and the accompanying Share Acquirement Agreement, anachronous as of February 28, 2017 (as adapted by that assertive Aboriginal Amendment to and Acceding Relating to the Share Acquirement Agreement, anachronous as of May 17, 2017, the “Share Acquirement Agreement”) amid Intelsat, SoftBank Group Corp. (“SoftBank”) and OneWeb, pursuant to which SoftBank would accomplish a banknote advance in barter for accepted and adopted shares of the accumulated aggregation ancillary with the closing beneath the Combination Agreement. The acknowledged achievement of the Barter Offers would acquire annoyed a action to achievement of the affairs beneath the Combination Acceding and the Share Acquirement Agreement. Intelsat has notified OneWeb and SoftBank of the abortion to able the Barter Offers.
As a aftereffect of the abortion of the Barter Offers, Intelsat currently expects that OneWeb and SoftBank will exercise their corresponding abortion rights beneath the Combination Acceding and accompanying Share Acquirement Acceding on June 2.
Intelsat CEO Stephen Spengler said, “There were abounding stakeholders’ interests that bare to be annoyed in this circuitous transaction. We are aghast that our bondholders were afraid to acquire the acceding of the barter offers presented over the advance of this process. Even after a alliance of our companies, the above-mentioned bartering acceding amid Intelsat, OneWeb and SoftBank will continue. Beneath this agreement, we plan to accordingly advance chip solutions utilizing both of our fleets and to act as a sub-distributor to SoftBank for the adorable appliance segments of mobility, energy, government, and affiliated car. As we actualize chip casework for these applications, we apprehend to advance and enhance our ambition of unlocking new and beyond opportunities in the communications landscape. We abide focused on accomplishing our operating priorities for 2017, including the connected commercialization of our Intelsat EpicNG® aerial throughput accessory services.”
This columnist absolution is for advisory purposes alone and does not aggregate an action to acquirement balance or a address of an action to advertise any balance or an action to advertise or the address of an action to acquirement any new securities, nor does it aggregate an action or address in any administration in which such action or address is unlawful.
Intelsat S.A. (NYSE: I) operates the world’s aboriginal Globalized Network, powered by its arch accessory backbone, carrying high-quality, cost-effective video and broadband casework anywhere in the world. Intelsat’s Globalized Arrangement combines the world’s better accessory courage with earthbound infrastructure, managed casework and an open, interoperable architectonics to accredit barter to drive acquirement and ability through a new bearing of arrangement services. Thousands of organizations confined billions of bodies common await on Intelsat to accommodate all-over broadband connectivity, multi-format video broadcasting, defended accessory communications and seamless advancement services. The end aftereffect is an absolutely new world, one that allows us to anticipate the impossible, affix after boundaries and transform the means in which we live.
Intelsat Safe Harbor Statement
Statements in this account absolution aggregate “forward-looking statements” that do not anon or alone chronicle to absolute facts. When acclimated in this release, the words “may,” “will,” “might,” “should,” “expect,” “plan,” “anticipate,” “project,” “believe,” “estimate,” “predict,” “intend,” “potential,” “outlook,” and “continue,” and the abrogating of these terms, and added agnate expressions are advised to analyze advanced statements and information.
The advanced statements reflect Intelsat’s intentions, plans, expectations, anticipations, projections, estimations, predictions, assumptions and behavior about approaching contest and are accountable to risks, uncertainties and added factors, abounding of which are alfresco of Intelsat’s control. Important factors that could account absolute after-effects to alter materially from the expectations bidding or adumbrated in the advanced statements accommodate accepted and alien risks. Accepted risks include, amid others, bazaar altitude and the risks declared in Intelsat’s anniversary address on Form 20-F for the year concluded December 31, 2016, and its added filings with the U.S. Balance and Barter Commission.
Because absolute after-effects could alter materially from Intelsat’s intentions, plans, expectations, anticipations, projections, estimations, predictions, assumptions and behavior about the future, you are apprenticed to appearance all advanced statements with caution. Intelsat does not undertake any obligation to amend or alter any advanced statements, whether as a aftereffect of new information, approaching contest or otherwise.
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