Press Releases
Telesat Canada announces that it has called for redemption of all of its Series 2001 Notes
OTTAWA, CANADA, October 31, 2007 - Telesat Canada Telesat Canada announced today that it has called for redemption of all of its $125,000,000 principal amount of outstanding 8.2% Series 2001 Notes which mature on November 7, 2008. The Notes will be redeemed on November 30, 2007 at a price equal to the Canada Yield Price, together with accrued and unpaid interest to November 30, 2008. For this purpose, the “Canada Yield Price” means the price calculated to provide a yield to maturity equal to the sum of the Government of Canada Yield calculated as at November 27, 2007 and 0.50%, and “Government of Canada Yield” means the average of the yields to maturity on November 27, 2007, compounded semi-annually, which an assumed new issue of non-callable Government of Canada bonds denominated in Canadian dollars would carry if issued in Canada, at 100% of the principal amount on such date, with a term to maturity equal to the remaining term to maturity of the Notes, quoted at 10:00 a.m. (ET) by any two of CIBC World markets Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC Dominion Securities Inc., or their successors, as selected by the Company.
About Telesat
Headquartered in Ottawa, Canada, with offices and facilities around the world, Telesat is the fourth largest fixed satellite services operator. The company provides reliable and secure satellite-delivered communications solutions to broadcast, telecom, corporate and government customers. Telesat has a global state-of-the-art fleet of 12 satellites and three additional satellites under construction, and manages the operations of 13 additional satellites for third parties. Telesat is privately held. Its principal shareholders are Canada’s Public Sector Pension Investment Board and Loral Space & Communications Inc. (NASDAQ: LORL).
For more information:
Ted Ignacy
Telesat Canada
(613) 748-0123
Dan Tisch or Kyla Thoms (media only)
Argyle Communications
(416) 968-7311 Ext. 223 or 237
dtisch@argylecommunications.com
kthoms@argylecommunications.com
