OTTAWA, June 29 /CNW/ - Telesat Canada today announced an offer to
exchange (1) any and all of the US$692,825,000 outstanding principal amount of
its 11.0% Senior Notes due 2015 for an equal amount of new 11.0% Senior Notes
due 2015 and (2) any and all of the US$217,175,000 outstanding principal
amount of its 12.5% Senior Subordinated Notes due 2017 for an equal amount of
new 12.5% Senior Subordinated Notes due 2017. Telesat LLC is, and will be, the
co-issuer of the notes. In addition, the outstanding notes are, and the new
notes will be, fully and unconditionally guaranteed on an unsecured basis by
Telesat Canada's parent company, Telesat Holdings Inc., and certain of its
domestic and foreign subsidiaries.
The terms of the new notes are substantially the same as the original
notes, except that the new notes will be registered under the U.S. Securities
Act of 1933, as amended, and the new notes have no transfer restrictions,
rights to additional interest or registration rights, except for certain
restrictions on transfers of new notes in Canada under applicable Canadian
securities laws. The new notes have not been, and will not be, qualified for
distribution under the securities laws of any province or territory of Canada
except pursuant to available exemptions therefrom.
The exchange offer commenced on June 29, 2009 and is scheduled to expire
at 12:00 midnight, New York City time, on July 28 2009, unless extended.
A written prospectus providing the terms of the exchange offer may be
obtained through the exchange agent, which can be contacted at:
The Bank of New York Mellon
101 Barclay Street
Reorganization Unit - Floor 7E
New York, NY 10286
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities. The exchange offer is being
made only pursuant to the prospectus dated June 29, 2009 (and to Canadian
residents only pursuant to a private placement memorandum of the same date)
and only to such persons and in such jurisdictions as is permitted under
About Telesat (www.telesat.com)
Headquartered in Ottawa, Canada, with offices and facilities around the
world, Telesat is the fourth-largest fixed satellite services operator. The
company provides reliable and secure satellite-delivered communications
solutions to broadcast, telecom, corporate and government customers. Telesat
has a global state-of-the-art fleet of 12 satellites, and one additional
satellite under construction, and manages the operations of 13 additional
satellites for third parties.
For further information:
For further information: Michael Bolitho, Telesat, (613) 748-8700 ext.