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Intelsat has obtained credit facilities for a total of $1
billion, from a syndicate of lenders arranged by Salomon
Smith Barney. The financings represent significant initial
funding for Intelsat, the first since its privatization
in July 2001.
The
credit arrangements include a 364-day facility in the amount
of $500 million and a three-year facility in the same amount.
The facilities are intended to provide liquidity support
for general corporate purposes and to support the telephony,
corporate network, broadcast and Internet solutions company's
commercial paper programme.
These
facilities replace an expiring $1 billion, 364-day credit
facility that Intelsat obtained in March 2001.
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