UPDATE: The banks behind the leveraged buyout of Intelsat are to ask their existing lenders to waive the fees associated with the change of control following the acquisition by BC Partners.
The change in the clause would require the permission from the lenders in the $5.1 billion purchase, being underwritten by Credit Suisse, and would be funded out of existing debt.
Earlier this month Intelsat confirmed US private equity firm Silver Lake, a specialist in technology companies, was to invest in the company as part of a combined $860m note redemption.