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OTTAWA, April 13, 2021 (GLOBE NEWSWIRE) — Telesat Canada (“Telesat”) right this moment introduced the pricing of an providing (the “Providing”) of US$500 million combination principal quantity of 5.625% senior secured notes due 2026 (the “Senior Secured Notes”) by Telesat and Telesat LLC. The Senior Secured Notes can be secured by a primary precedence lien on the collateral that secures Telesat’s current credit score settlement and current 4.875% senior secured notes due 2027. The Senior Secured Notes are anticipated to be issued on or round April 27, 2021, topic to customary closing situations.
Telesat intends to make use of the online proceeds from the Providing to fund further funding into a number of unrestricted subsidiaries for the event of Telesat Lightspeed, Telesat’s Low Earth Orbit (LEO) satellite tv for pc community, for the cost of charges and bills associated to the Providing, and if the funding wants of Telesat Lightspeed are lower than at present anticipated, for common company functions.
The Senior Secured Notes are being supplied solely to certified institutional patrons in reliance on Rule 144A underneath the Securities Act of 1933, as amended (the “Securities Act”), and, exterior the US, solely to non-U.S. traders pursuant to Regulation S underneath the Securities Act. The Senior Secured Notes won’t be registered underneath the Securities Act or any state securities legal guidelines and might not be supplied or bought in the US absent registration or an relevant exemption from the registration necessities of the Securities Act or different relevant securities legal guidelines.
This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase any safety and shall not represent a suggestion, solicitation or sale in any jurisdiction through which such providing, solicitation or sale can be illegal. Any provides of the Senior Secured Notes can be made solely by the use of a personal providing memorandum. No assurance could be made that the Senior Secured Notes can be issued.
Ahead-Wanting Statements Secure Harbor
This information launch comprises statements that aren’t primarily based on historic truth and are ”forward-looking statements” inside the that means of the Personal Securities Litigation Reform Act of 1995. When used on this information launch, the phrases “future”, anticipated”, “persevering with”, “plans” and “will” , or different variations of those phrases or different related expressions are meant to establish forward-looking statements and knowledge. Precise outcomes might differ materially from the expectations expressed or implied within the forward-looking statements on account of identified and unknown dangers and uncertainties. Detailed details about among the identified dangers and uncertainties is included within the “Danger Elements” part of Telesat Canada’s Annual Report on Type 20-F for the fiscal 12 months ended December 31, 2020 which could be obtained on the SEC web site at https://www.sec.gov/Archives/edgar/data/0001465191/000121390021013340/f20f2020_telesatcanada.htm.
Identified dangers and uncertainties embrace however should not restricted to: dangers related to working satellites and offering satellite tv for pc providers, together with satellite tv for pc building or launch delays, launch failures, in-orbit failures or impaired satellite tv for pc efficiency, the flexibility to efficiently deploy a sophisticated world LEO satellite tv for pc constellation, the provision of presidency and/or different funding for the LEO satellite tv for pc constellation, the receipt of proceeds in relation to the re-allocation of C-band spectrum, volatility in trade charges, the anticipated use of proceeds of the Providing, dangers and expense related to turning into a publicly listed firm the flexibility to broaden our current satellite tv for pc utilization and dangers related to home and international authorities regulation. The foregoing record of necessary elements isn’t exhaustive. The data contained on this information launch displays Telesat’s beliefs, assumptions, intentions, plans and expectations as of the date of this information launch. Besides as required by legislation, Telesat disclaims any obligation or endeavor to replace or revise the knowledge herein.
About Telesat
Backed by a legacy of engineering excellence, reliability and industry-leading customer support, Telesat is without doubt one of the largest and most profitable world satellite tv for pc operators. Telesat works collaboratively with its clients to ship essential connectivity options that deal with the world’s most complicated communications challenges, offering highly effective benefits that enhance their operations and drive worthwhile progress.
Constantly innovating to fulfill the connectivity calls for of the longer term, Telesat Lightspeed, the corporate’s Low Earth Orbit (LEO) satellite tv for pc community, would be the first and solely LEO community optimized to fulfill the rigorous necessities of telecom, authorities, maritime and aeronautical clients. Working underneath its world precedence Ka-band spectrum rights, Telesat Lightspeed will redefine world satellite tv for pc connectivity with ubiquitous, reasonably priced, high-capacity hyperlinks with fibre-like speeds.
Privately held and headquartered in Ottawa, Canada with places of work and amenities around the globe, Telesat’s principal shareholders are Canada’s Public Sector Pension Funding Board and Loral House & Communications Inc. (NASDAQ: LORL).
For additional data:Michael BolithoTelesat+1 (613) 748-8828
Supply: Telesat Canada
