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: 2012 movie massacre hung over 'Interview' decision

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

2012 movie massacre hung over 'Interview' decision

11 hours ago

When a group claiming credit for the hacking of Sony Pictures Entertainment threated violence against theaters showing "The Interview" earlier this week, the fate of the movie's big-screen life was all but ...

Clooney slams skittish Hollywood after Sony hack

18 hours ago

Film star George Clooney slammed the Hollywood movie industry for failing to stand up against the cyber threats that prompted Sony Pictures to cancel release of the movie "The Interview."

Atos shares soar after Xerox acquisition

21 hours ago

Shares in French tech firm Atos soared nearly five percent on Friday as traders cheered the news it had bought the IT wing of Xerox for more than $1 billion.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.