Intelsat Global IPO watch: According to the latest amended prospectus, Intelsat Global intends to list its common shares on the New York Stock Exchange under the symbol “I.” The company expects to raise funds of $1.175 billion at most in this public offering.
The principal use of net proceeds from the sale of common shares in the Intelsat Global IPO is for general corporate purposes, which could include the repayment, redemption, retirement or repurchase in the open market of our indebtedness. In addition, a certain amount of the proceeds will be used to pay a fee to sponsors.
Intelsat Global Holdings S.A. is the world’s largest commercial satellite services provider engaged in a critical layer in the global communications infrastructure. The company generated $2.513 billion, $2.545 billion and $2.588 billion for the years ended December 31, 2009, 2010 and 2011, respectively. The company posted net losses of $774.659 million, $513.361 and $435.265 million each year during this period. For the three months ended March 31,2012, the company generated revenues of $644.169 million versus $640.188 a year ago and incurred a net loss of $25.067 million versus a net loss of $216.022 million a year ago.
Goldman, Sachs & Co., J.P. Morgan and Morgan Stanley are working as the joint booking-managers of the Intelsat Global IPO.
Intelsat Global IPO