Intelsat to raise $472 million in public offering

Apr 18, 2013

Satellite operator Intelsat SA says it expects to raise around $471.7 million from an initial public offering

It has set the price for 19.3 million common shares at $18 and three million preferred shares at $50. The shares on offer, which represent roughly one-fifth of shares outstanding, will trade on the . The offerings close on April 23.

Intelsat said it will use proceeds to pay down debt.

In February, Intelsat reported a full year loss of $146.6 million on revenues of $2.61 billion. At March 31, it had $15.8 billion in long-term debt.

Intelsat, once a U.S. government consortium, was privatized in 2001. Private equity firms BC Partners and Silver Lake Partners bought Intelsat in 2007 in a huge leveraged buyout that valued it at $16.6 billion.

Explore further: Canada demands Google, Netflix data, sets deadline

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Intelsat plans scaled-back IPO in New York (Update)

Apr 02, 2013

Satellite operator Intelsat Global Holdings revived Tuesday its plan for an initial public offering on the New York Stock Exchange, aiming to raise up to $710 million, less than half of what it envisioned last year.

Ariane rocket with two telecom satellites lifts off

Aug 03, 2012

An Ariane 5 rocket carrying two telecommunication satellites launched from the Kourou space centre in French Guiana on Thursday, an Internet broadcast by European operator Arianespace showed.

Sea Launch vessels depart on Intelsat mission

May 21, 2012

(AP) -- Sea Launch AG says its oceangoing rocket pad and command ship have departed their Long Beach, Calif., home port for the equator to launch a communications satellite for Intelsat.

Soft maker Deltek to be taken private for $890.5M

Aug 27, 2012

(AP)—Deltek Inc. shares slid nearly 8 percent Monday after the business software company said that it was being bought by private equity firm Thoma Bravo LLC in a cash deal worth about $890.5 million.

Recommended for you

What's PayPal's first solo move?

9 hours ago

PayPal's impending split from long-time partner eBay Inc. will ratchet up its appeal to online retail competitors such as Amazon.com and give it the freedom to aggressively take on new mobile pay challeng ...

AOL to feed more video, news to Microsoft's MSN

13 hours ago

AOL will provide Microsoft's MSN with more video and additional news stories from popular sites such as The Huffington Post and TechCrunch in an expansion of a deal aimed at selling more digital advertising.

Microsoft to tap $2-trillion Indian cloud market

18 hours ago

Microsoft announced plans Tuesday to offer its commercial cloud services from Indian data centres as it seeks to tap what it calls a $2-trillion market in the country where Internet use is growing rapidly.

User comments : 0