BETHESDA, MD, April 1 /CNW/ - Stratos Global Corporation, the leading global provider of advanced mobile and fixed-site remote communications solutions, today announced that it has entered preliminary discussions with its parent company, Inmarsat plc, regarding a loan from Inmarsat to support a refinancing of the outstanding Stratos long-term debt. At December 31, 2009, Stratos had outstanding long-term debt comprising US$209.3 million under its senior secured Term B facility and US$150.0 million of senior unsecured notes. If Stratos successfully arranges financing from Inmarsat and determines to proceed with the refinancing, Stratos would expect to issue a notice of prepayment to holders of the Term B secured facility and a notice of redemption to holders of the senior unsecured notes during the second quarter. As these discussions with Inmarsat are preliminary, there can be no assurance that any such refinancing will occur.
Stratos is the world's trusted leader for vital communications. Stratos offers the most powerful and extensive portfolio of remote communications solutions including mobile and fixed satellite and microwave services. More than 20,000 customers use Stratos products and industry-leading value added services to optimize communication performance. Stratos serves U.S. and international government, military, first responder, NGO, oil and gas, industrial, maritime, aeronautical, enterprise, and media users on seven continents and across the world's oceans. Stratos is a wholly-owned subsidiary of Inmarsat plc. For more information visit www.stratosglobal.com
SOURCE STRATOS GLOBAL CORPORATION
For further information: For further information: Investor Contact: Paula M. McDonald, FCA, Executive Vice President & CFO, (709) 724-5227, email@example.com