Source - SMW
Inmarsat has announced the pricing of an offering of debt securities by Inmarsat Finance plc, a wholly-owned subsidiary of the company. 

Inmarsat will issue $400 million of 6.500% senior notes due 2024 at an issue price of 100.00%. 

The notes pay a coupon of 6.500% per annum and are guaranteed on a senior unsecured basis by Inmarsat Group Limited and on a senior subordinated and unsecured basis by Inmarsat Investments and certain of its subsidiaries.

 Inmarsat intends to use the proceeds to repay the EIB facility (approximately $107 million) and the remainder for general corporate purposes. The Notes will be issued on 22 September 2016, subject to customary closing conditions.

The issuance of the notes will conclude Inmarsat's intended near-term financing activity and follows the recent successful issuance of the new convertible bond due 2023 and the repurchase of the existing convertible bond due 2017.

 Across the Notes and new convertible bond, Inmarsat has raised total proceeds of $1,050,000,000 on attractive terms. 

The net proceeds of this activity will further strengthen Inmarsat's financial position and support its existing strategy of continued investment in innovation and the delivery of global mobile satellite service solutions, where Inmarsat continues to see opportunities for sustained profitable growth.  

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