Intelsat, Ltd. today announced that it has
obtained credit facilities for a total of $1 billion, from a syndicate of
lenders arranged by Salomon Smith Barney. The financings represent
significant initial funding for Intelsat, the first since its privatization
in July 2001.
The credit arrangements include a 364-day facility in the amount of $500
million and a three-year facility in the same amount. The facilities are
intended to provide liquidity support for general corporate purposes and to
support Intelsat, Ltd.’s commercial paper program.
Joseph Corbett, Intelsat, Ltd.’s Executive Vice President and CFO, stated,
"The favorable terms of these credit facilities represent a continued
recognition of our business, including our high-quality, global satellite
network, valued orbital slots, long-standing customer relationships and
technical leadership."
These facilities replace an expiring $1 billion, 364-day credit facility
that Intelsat obtained in March 2001.
About Intelsat
Intelsat, Ltd. offers telephony, corporate network, broadcast and Internet
solutions around the globe via capacity on 21 geosynchronous satellites in
prime orbital locations. Customers inlytie than 200 countries and
territories rely on Intelsat satellites and staff for quality connections,
global reach and reliability. For more information, visit www.intelsat.com.
Contact:
Allison Scuriatti
allison.scuriatti@intelsat.com
+1-202-944-7841
+1-202-957-0045 (cell)
SAFE HARBOR STATEMENT:
Some of the statements in this news release constitute "forward-looking
statements" that do not directly or exclusively relate to historical facts.
The forward-looking statements in this news release reflect our intentions,
plans, expectations, assumptions and beliefs about future events and are
subject to risks, uncertainties and other factors, many of which are outside
of our control. These factors could cause our actual results to differ
materially from the expectations expressed or implied in the forward-looking
statements and include known and unknown risks. Additional risks include,
but are not limited to, insufficient market demand for communications
services offered by us; the quality and price of communications services
offered by our competitors; the risk of delay in implementing our business
strategy; our access to sufficient capital to meet our operating and
financing needs; changes in laws and regulations; political, economic and
legal conditions in the markets we are targeting for communications services
or in which we operate; acts of terrorism or other calamity; and a change in
the health of our satellites or a catastrophic loss or losses occurring
during the launch or in-orbit operations of any of our satellites. Because
actual results could differ materially from our 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.
