14th Nov 2007 07:01
Inmarsat PLC14 November 2007 THIS ANNOUNCEMENT IS NOT FOR PUBLICATION OR DISTRIBUTION OR RELEASE, DIRECTLY ORINDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANYOTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLELAW 14th November 2007 Inmarsat plc Pricing of US$287.7 million 1.75 per cent convertible bonds due 2017 London, England, 14 November, 2007 - Inmarsat plc, ("Inmarsat", the "Company"),(London Stock Exchange ISAT LN), following yesterday's announcement, nowannounces the pricing of its offering of US$287.7 million in principal amount of1.75 per cent convertible bonds due 2017 (the "Bonds"). The Bonds will be convertible into ordinary shares of the Company and have a1.75 per cent semi-annual coupon, a semi-annual yield to maturity of 4.50 percent and a conversion premium of 32.5 per cent over the reference share price of£4.6193 representing approximately 5 per cent of the Company's current issuedshare capital. The Company will have an option to call the Bonds after 7 yearsat their accreted principal amount under certain circumstances. In addition, theholder of each Bond will have the right to require the Issuer to redeem suchBond at its accreted principal amount at years 5 and 7. The initial conversionprice is US$12.6940 and the total number of common shares to be issued if allBonds are converted is 22.66 million shares. Settlement of the Bonds is expected to be on or around 16th November 2007. These materials are not for distribution, directly or indirectly, in or into theUnited States. They are not an offer of securities for sale into the UnitedStates. The Bonds may not be offered or sold in the United States or to, or forthe account or benefit of, US persons (as such term is defined in Regulation Sunder the Securities Act of 1933), unless they are registered or exempt fromregistration. There will be no public offer of securities in the United States. This press release shall not constitute an offer to sell or a solicitation of anoffer to buy securities nor shall there be any sale of any securities in anyjurisdiction in which such an offer, solicitation or sale would be unlawfulprior to registration of qualification under the securities laws of suchjurisdiction. Lehman Brothers International (Europe) and JPMorgan Cazenove are acting as JointBookrunners and Lead Managers of the Offering. -ends- Inmarsat plc (LSE:ISAT LN) is the leading provider of global mobile satellitecommunications. Since 1979, Inmarsat has been providing reliable voice andhigh-speed data communications to governments, enterprises and otherorganisations, with a range of services that can be used on land, at sea or inthe air. The company's services are delivered through a global network of morethan 500 distribution partners and service providers operating in 180countries. For the year ended 31 December 2006, Inmarsat plc had total revenueof US$500.1 million and profit before tax of US$89.8 million. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Inmarsat