United States: Milbank Represents Initial Purchasers In $1.2 Billion Offering Of 7¼% Senior Notes And Cash Tender Offer By Intelsat Jackson Holdings S.A.
Last Updated: June 14 2012

NEW YORK, May 10, 2012 – International law firm Milbank, Tweed, Hadley & McCloy LLP, led by Global Securities partner Arnold Peinado and Leveraged Finance partner Lauren Hanrahan, acted as special New York counsel to the initial purchasers in a $1.2 billion offering of 7¼% Senior Notes due 2020 by Intelsat Jackson Holdings S.A ("Intelsat Jackson") pursuant to Rule 144A and Regulation S. Milbank also acted as special New York counsel to the dealer manager in Intelsat Jackson's concurrent cash tender offers for any and all of its $701.9 million outstanding 9½% Senior Notes due 2016 and up to $470.0 million aggregate principal amount of its $1,048.2 million outstanding 11¼% Senior Notes due 2016.

Intelsat Jackson will use the proceeds of the bond offering to pay the total consideration in the tender offers and for general corporate purposes. Concurrently with the offering, Intelsat also obtained agreements from affiliates of Goldman, Sachs & Co. and Morgan Stanley & Co. LLC to provide unsecured term loan commitments sufficient to refinance in full Intelsat S.A.'s 6½% Senior Notes due 2013 on or immediately prior to their maturity date, in the event that Intelsat S.A. does not otherwise refinance or retire those notes.

Goldman, Sachs & Co. and Morgan Stanley & Co. LLC acted as joint book-running managers in the offering and Goldman, Sachs & Co. acted as dealer manager in each of the tender offers.

Intelsat is the leading provider of satellite services worldwide. For over 45 years, Intelsat has been delivering information and entertainment for many of the world's leading media and network companies, multinational corporations, internet service providers and governmental agencies.

Other Milbank attorneys involved in these transactions included Transportation & Space partners Peter Nesgos and Dara Panahy, Tax partner Andrew Walker, Securities associates Kevin MacLeod, Michael Lee and Megha Shah, Leveraged Finance associates Sarah Griffin and Nick Zabawsky, Transportation & Space associates Alexis Sainz, David Levine and Bijan Ganji and Tax associate Thallen Brassel.

About Milbank

Milbank, Tweed, Hadley & McCloy LLP is a leading international law firm providing innovative legal solutions to clients throughout the world for more than 140 years. Milbank is headquartered in New York and has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, São Paulo, Singapore, Tokyo and Washington, DC.

The firm's lawyers provide a full range of legal services to the world's leading commercial, financial and industrial enterprises, as well as to institutions, individuals and governments. Milbank's lawyers meet the needs of our clients by offering a highly integrated and collaborative range of services across key practice groups throughout our global network. Milbank's integrated practice is underpinned by our attorneys' acknowledged technical excellence, sectoral expertise and a strong tradition of innovation and client service.

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