Financially Speaking… Intelsat Ltd…

Intelsat, Ltd. intends to offer an aggregate principal amount of approximately $2.8 billion of 11-¼ percent senior notes due 2017 and an aggregate principal amount of approximately $2.2 billion of 11-½ percent – 12-½ percent senior PIK election notes due 2017 (together, the “Intelsat Bermuda notes”), the net proceeds of which, together with cash on hand, will be used to repay in full Intelsat Bermuda’s outstanding senior unsecured bridge loan credit agreement and senior unsecured PIK election bridge loan credit agreement, respectively, (ii) its subsidiary, Intelsat Intermediate Holding Company, Ltd. (“Intermediate Holdco”), intends to offer an aggregate principal amount at maturity of approximately $481.0 million of 9-½ percent senior discount notes due 2015 (the “Intermediate Holdco notes”), the net proceeds of which, together with cash on hand, will be used to repay in full Intermediate Holdco’s outstanding senior unsecured backstop loan credit agreement, and (iii) its subsidiary, Intelsat Subsidiary Holding Company, Ltd. (“Intelsat Sub Holdco”), intends to offer an aggregate principal amount of approximately $883.3 million of 8-½ percent senior notes due 2013 and an aggregate principal amount of approximately $681.0 million of 8-⅞ percent senior notes due 2015 (together, the “Sub Holdco notes” and, together with the Intelsat Bermuda notes and the Intermediate Holdco notes, the “notes”), the net proceeds of which, together with cash on hand, will be used to repay in full Intelsat Sub Holdco’s outstanding senior unsecured backstop loan credit agreements. The bridge and backstop loans being repaid with the proceeds of the notes were incurred (i) in connection with the funding of the acquisition (the “Acquisition”) of Intelsat Holdings, Ltd., the indirect parent of Intelsat, Ltd., by an entity formed by funds advised by BC Partners Holdings Limited, Silver Lake Partners and certain other equity investors and (ii) in connection with the funding of the change of control offers required by Intelsat Sub Holdco and Intermediate Holdco as a result of the Acquisition.