Telesat Announces Closing of Its Secured Notes Offering
27 Abril 2021 - 3:00PM
Telesat Canada (“Telesat”) today announced the issuance of US$500
million in aggregate principal amount of 5.625% senior secured
notes due 2026 (the “Senior Secured Notes”), which will mature on
December 6, 2026, pursuant to an indenture, dated as of April 27,
2021, by and among Telesat and Telesat LLC, as co-issuer, the
guarantors named therein, and The Bank of New York Mellon, as
trustee and notes collateral agent and the other collateral agents
party thereto (the “Offering”).
Telesat will use the net proceeds from the Offering to fund
additional investment into one or more unrestricted subsidiaries
for the development of Telesat Lightspeed, Telesat’s Low Earth
Orbit (LEO) satellite network, for the payment of fees and expenses
related to the Offering, and if the funding needs of Telesat
Lightspeed are less than currently anticipated, for general
corporate purposes.
The Senior Secured Notes were offered only to qualified
institutional buyers in reliance on Rule 144A under the Securities
Act of 1933, as amended (the “Securities Act”), and, outside the
United States, only to non-U.S. investors pursuant to Regulation S
under the Securities Act. The Senior Secured Notes were not, and
will not be, registered under the Securities Act or any state
securities laws and may not be offered or sold in the United States
absent registration or an applicable exemption from the
registration requirements of the Securities Act or other applicable
securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any security and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offering, solicitation or sale would be unlawful. Any
offers of the Senior Secured Notes will be made only by means of a
private offering memorandum.
Forward-Looking Statements Safe Harbor
This news release contains statements that are not based on
historical fact and are ”forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995.
When used in this news release, the words “future”, “expected”,
“continuing”, “plans” and “will” , or other variations of these
words or other similar expressions are intended to identify
forward-looking statements and information. Actual results may
differ materially from the expectations expressed or implied in the
forward-looking statements as a result of known and unknown risks
and uncertainties. Detailed information about some of the known
risks and uncertainties is included in the “Risk Factors” section
of Telesat Canada’s Annual Report on Form 20-F for the fiscal year
ended December 31, 2020 which can be obtained on the SEC website at
https://www.sec.gov/Archives/edgar/data/0001465191/000121390021013340/f20f2020_telesatcanada.htm.
Known risks and uncertainties include but are not limited to:
risks associated with operating satellites and providing satellite
services, including satellite construction or launch delays, launch
failures, in-orbit failures or impaired satellite performance, the
ability to successfully deploy an advanced global LEO satellite
constellation, the availability of government and/or other funding
for the LEO satellite constellation, the receipt of proceeds in
relation to the re-allocation of C-band spectrum, the anticipated
use of proceeds of the Offering, volatility in exchange rates,
risks and expense associated with becoming a publicly listed
company the ability to expand our existing satellite utilization
and risks associated with domestic and foreign government
regulation. The foregoing list of important factors is not
exhaustive. The information contained in this news release reflects
Telesat’s beliefs, assumptions, intentions, plans and expectations
as of the date of this news release. Except as required by law,
Telesat disclaims any obligation or undertaking to update or revise
the information herein.
About Telesat
Backed by a legacy of engineering excellence, reliability and
industry-leading customer service, Telesat is one of the largest
and most successful global satellite operators. Telesat works
collaboratively with its customers to deliver critical connectivity
solutions that tackle the world’s most complex communications
challenges, providing powerful advantages that improve their
operations and drive profitable growth.
Continuously innovating to meet the connectivity demands of the
future, Telesat Lightspeed, the company’s Low Earth Orbit (LEO)
satellite network, will be the first and only LEO network optimized
to meet the rigorous requirements of telecom, government, maritime
and aeronautical customers. Operating under its global priority
Ka-band spectrum rights, Telesat Lightspeed will redefine global
satellite connectivity with ubiquitous, affordable, high-capacity
links with fibre-like speeds.
Privately held and headquartered in Ottawa, Canada with offices
and facilities around the world, Telesat’s principal shareholders
are Canada’s Public Sector Pension Investment Board and Loral Space
& Communications Inc. (NASDAQ: LORL).
For further information:Michael BolithoTelesat+1 (613)
748-8828ir@telesat.com.
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