Telesat Canada amended its secured credit agreement, providing for a new term loan facility of $1.909 billion and a new revolving credit facility with commitments of $200 million, which replaced the existing term loan and revolving facilities.
The revolving credit facility is currently undrawn. JPMorgan Chase Bank is acting as administrative agent and collateral agent for the facilities.
Telesat used the net proceeds from a notes offering and the senior credit facilities, together with cash on hand, to repay all borrowings outstanding under its existing senior credit facilities and pay related fees and expenses.
Headquartered in Ottawa, Telesat is a global satellite operator, providing reliable and secure satellite-delivered communications solutions worldwide to broadcast, telecom, corporate and government customers.
