SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 3, 2002
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LORAL SPACE & COMMUNICATIONS LTD.
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(Exact name of registrant as specified in its charter)
Islands of Bermuda 1-14180 13-3867424
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number
c/o Loral SpaceCom Corporation
600 Third Avenue, New York, New York 10016
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(212) 697-1105
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Item 5. Other Events.
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On April 3, 2002, in a privately negotiated transaction, Loral Space &
Communications Ltd. ("Loral") exchanged an aggregate of 2,183,550 shares of its
6% Series C Convertible Redeemable Preferred Stock due 2006 and 6% Series D
Convertible Redeemable Preferred Stock due 2007 for 15,066,495 shares of its
common stock. As a result of this transaction, Loral retired preferred stock
with an aggregate liquidation preference of $109,177,500 (representing almost
14% of the preferred outstanding) and will save $32.9 million in cumulative
dividends that it would otherwise have been obligated to pay over the life of
the preferred stock that it retired.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Loral Space & Communications Ltd.
By: /s/ Avi Katz
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Name: Avi Katz
Title: Vice President and Secretary
Date: April 8, 2002