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Technology Stocks : Loral Space & Communications -- Ignore unavailable to you. Want to Upgrade?

To: Valueman who wrote (5198)	1/27/1999 7:03:00 PM
From: jopawa	Respond to of 10852

SATMEX TO SELL $320,000,000 OF 10-1/8% SENIOR NOTES IN A RULE 144A Offering Business Editors NEW YORK--(BUSINESS WIRE)--January 26, 1998--Satelites Mexicanos, S.A. de C.V. (SatMex), the company which owns and operates Mexico's satellite operations, announced today that it has entered into an agreement to sell $320 million of 10-1/8% senior notes due 2004 in an offering exempt from registration. Loral Space & Communications Ltd. and its partner Telefonica Autrey, S.A. de C.V. were awarded the winning bid to acquire a 75 percent interest in SatMex. The Mexican government, which initiated the privatization of SatMex, retains the remaining 25 percent. The acquisition was financed, in part, with the proceeds of a senior secured bank facility and bridge financing. SatMex intends to apply the net proceeds from the sale of the notes to refinance the bridge notes issued by the Company in connection with the acquisition. The notes have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements of the Securities Act and applicable state securities laws.