BETHESDA, MD, May 3 /CNW/ - Stratos Global Corporation, the leading global provider of advanced mobile and fixed-site remote communications solutions, today announced that it has initiated full prepayment of its senior secured Term B debt together with the related cancellation of its senior secured operating facility and Term B facility and has also issued an irrevocable notice of redemption to the trustee for all holders of its 9 7/8% senior unsecured notes due 2013. In accordance with the terms of the note indenture, upon the expiry of the notice period which will be on June 2, 2010, Stratos will redeem 100% of the principal amount of senior unsecured notes outstanding and pay the applicable redemption premium. At the end of December 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. Stratos will use available cash resources and financing from its parent company to fund the repayments.
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, firstname.lastname@example.org