News Column

Inmarsat -- commencement of an offer to purchase its outstanding senior notes due 2017

June 7, 2014

By a News Reporter-Staff News Editor at Investment Weekly News -- Inmarsat Finance plc (the "Company") announced that it has commenced a tender offer (the "Offer") to repurchase for cash any and all of its outstanding US$850,000,000 7.375% Senior Notes due 2017 (the "Notes").

Capitalized terms used in this announcement and not otherwise defined have the meanings ascribed to them in the indenture governing the Notes or in the Offer to Purchase dated May 20, 2014 (the "Offer to Purchase"). The Offer will be made solely by, and subject to terms and conditions set forth in, the Offer to Purchase, which has been sent to the applicable holders of Notes and is also available to such holders directly from the Tender Agent. The Company notes that there are certain conditions to the completion of the Offer to Purchase, including a financing condition, and offers no assurances that the Offer to Purchase will be completed.

Holders of relevant Notes that are validly tendered and not validly withdrawn at or prior to the Early Tender Date (5:00 p.m., New York City time, on June 3, 2014) and accepted for purchase will receive the relevant Total Tender Consideration (as set forth below), comprising the relevant Tender Offer Consideration (as set forth below) plus the relevant Early Tender Premium (as set forth below), plus Accrued Interest.

Holders of relevant Notes that are validly tendered and not validly withdrawn after the Early Tender Date but before the Expiration Date (11:59 p.m., New York City time, on June 17, 2014) will receive the relevant Tender Offer Consideration, plus Accrued Interest.

In all cases, Holders of validly tendered Notes will receive accrued and unpaid interest ("Accrued Interest") up to, but not including, the applicable Settlement Date (as defined below).

In the event the Offer is completed, Notes not tendered in the Offer will be redeemed on or about July 7, 2014 at the then applicable redemption price of 103.688% of the principal amount of the Notes (plus accrued and unpaid interest through the date of redemption) in accordance with the terms of the indenture governing the Notes.

Keywords for this news article include: Inmarsat Finance plc, Finance and Investment.

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Source: Investment Weekly News

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