Telesat Canada revises proposed notes offering

OTTAWA – Telesat Canada has dropped the price of its senior notes offering to US$500 million aggregate principal amount from US$750 million announced last week.The company said late Wednesday that the US$250 million decrease from the proposed offering size is expected to be reallocated to term loan borrowings. The senior notes are being issued at par and are expected to be issued on or around November 17, 2016, subject to customary closing conditions.Concurrently with the proposed offering, Telesat said it expects to enter into a new credit facility that provides for term loan borrowings of US$2.43 billion and revolving credit borrowings...