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New Senior Notes Offering of US$400 million due 2024
London, UK: 14 September 2016. Inmarsat plc (LSE: ISAT.L) ("Inmarsat") announces that it has launched an offering of debt securities through Inmarsat Finance plc, a wholly-owned subsidiary of the company. Inmarsat is offering $400 million of fixed rate Senior Notes due 2024 (the "Notes"). The Notes will be 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 remaining proceeds will further strengthen Inmarsat's financial position and support its 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. The Notes will be issued as part of the Inmarsat Group's ongoing plans to optimise financing costs and the Group's debt maturity profile. A further announcement will be made to confirm the outcome of the offering.
This press release is for information purposes only and does not constitute a prospectus or any offer to sell or the solicitation of an offer to buy any security in the United States or in any other jurisdiction. The Notes have not been and will not be registered under the U.S. Securities Act of 1933 (the "Securities Act") and may not be sold in the United States absent an exemption from the registration requirement of such act. The Notes will be offered in a private offering exempt from the registration requirements of the Securities Act and will accordingly be offered only to (i) qualified institutional buyers pursuant to Rule 144A under the Securities Act and (ii) non-US persons outside the United States in compliance with Regulation S under the Securities Act.
The offering of the Notes addressed to, and directed in member states of the European Economic Area (the "EEA") which have implemented the Prospectus Directive (the "Prospectus Directive") at, persons who are "qualified investors" within the meaning of Article 2(1)(e) of the Prospectus Directive (directive 2003/71/EC, as amended) ("qualified investors"). In addition, in the United Kingdom, the offering of the Notes is directed only at qualified investors (i) who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (ii) qualified investors falling within Article 49(2)(a) to (d) of the Order, or (iii) to whom it may otherwise lawfully be communicated under the Order (all such persons together being referred to as "relevant persons"). This announcement must not be acted on or relied on by persons who are not relevant persons in the United Kingdom or qualified investors elsewhere in the EEA as the case may be. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons or qualified investors as the case may be.
Certain statements in this announcement constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those projected in the forward-looking statements. These factors include: general economic and business conditions; changes in technology; timing or delay in signing, commencement, implementation and performance of programmes, or the delivery of products or services under them; structural change in the satellite industry; relationships with customers; competition; and ability to attract personnel. You are cautioned not to rely on these forward-looking statements, which speak only as of the date of this announcement. We undertake no obligation to update or revise any forward-looking statement to reflect any change in our expectations or any change in events, conditions or circumstances.
This announcement is not an offer for sale of securities nor shall it constitute an offer to sell, or the solicitation of an offer to buy, and there shall not be any sale of, these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Inmarsat Finance plc has not registered, and does not intend to register, any portion of the offering in any jurisdiction, and does not intend to conduct a public offering of securities
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