Pembroke, Bermuda, 9 January 2008 Intelsat, Ltd., the worlds leading provider of fixed satellite services, today announced, at the request of the new investors referred to below, that Intelsat (Bermuda), Ltd. intends to redeem all of its outstanding $260 million Floating Rate Senior Notes due 2013 (the 2013 Notes) and $600 million Floating Rate Senior Notes due 2015 (the 2015 Notes and, together with the 2013 Notes, the Notes). The redemption of the Notes is conditioned upon consummation of the acquisition of Intelsat Holdings, Ltd. (the Acquisition), the indirect parent of Intelsat (Bermuda), Ltd., by affiliates of funds advised by BC Partners Holdings Limited, Silver Lake and certain other investors and the receipt from the new investors of sufficient moneys to effect the redemption.
Intelsat (Bermuda), Ltd. has issued a notice of redemption pursuant to each of the indentures for the 2013 Notes and the 2015 Notes stating that it intends to redeem all of such Notes on February 7, 2008, or such later date to which such redemption may be extended by Intelsat (Bermuda), Ltd. in its sole discretion (such date, as it may be extended, the Redemption Date). The redemption price for the 2013 Notes will be equal to 100% of the principal amount of the 2013 Notes plus a premium determined in accordance with the indenture for the 2013 Notes and accrued and unpaid interest thereon to the Redemption Date. The redemption price for the 2015 Notes will be equal to 102% of the principal amount of the 2015 Notes plus accrued and unpaid interest thereon to the Redemption Date. About Intelsat
Intelsat has empowered customers to navigate the world of global communications for over 40 years. Intelsat is the leading provider of fixed satellite services (FSS) worldwide, delivering advanced transmission access for information and entertainment to some of the worlds leading media and network companies, multinational corporations, Internet service providers and governmental agencies. Intelsat also offers seamless service for voice, data and video transmission unmatched in the industry. With the globalization of content, broadband, telecom, HD and IPTV fueling next-generation growth, the ever expanding universe of satellite services are the cornerstones of todays Intelsat. Real-time, advanced communications with people anywhere in the world is closer, by far.
Dianne VanBeber
Intelsat
dianne.vanbeber@intelsat.com
+1 202 944 7406
Intelsat Safe Harbor Statement:
Some of the statements in this news release, including statements relating to the anticipated Redemption Date, constitute “forward-looking statements” that do not directly or exclusively relate to historical facts. The forward-looking statements made in this release reflect Intelsat’s intentions, plans, expectations, assumptions and beliefs about future events and are subject to risks, including known and unknown risks, including without limitation the risk that the closing of the Acquisition may not occur and the risk that sufficient funds to effect the redemption are not provided by or at the direction of the new investors. Detailed information about some of the known risks is included in Intelsat’s annual report on Form 10-K for the year ended 31 December 2006 and Intelsat’s other periodic reports filed with the U.S. Securities and Exchange Commission. Because actual results could differ materially from Intelsat’s intentions, plans, expectations, assumptions and beliefs about the future, you are urged to view all forward-looking statements contained in this news release with caution. Intelsat does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
