8-K 1 l040802.txt CURRENT REPORT 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 ---------------- LORAL SPACE & COMMUNICATIONS LTD. ---------------------------------- (Exact name of registrant as specified in its charter) Islands of Bermuda 1-14180 13-3867424 -------------------------------------------------------------------------------- (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 -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (212) 697-1105 -------------------------------------------------------------------------------- Item 5. Other Events. ------------ 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 -------------------------------- Name: Avi Katz Title: Vice President and Secretary Date: April 8, 2002