Intelsat Announces First Quarter 2021 Results
First quarter net loss attributable to Intelsat S.A. was $174.9 million
First quarter Adjusted EBITDA of $275.0 million or 55% of revenue
March 31, 2021 contracted backlog of $5.9 billion
Intelsat S.A. (the Company ) (OTC: INTEQ), today announced financial results for the three months ended March 31, 2021.
Intelsat reported total revenue was $502.8 million and net loss attributable to Intelsat S.A. was $174.9 million for the three months ended March 31, 2021.
Intelsat reported EBITDA
1, or earnings before net interest, taxes and depreciation and amortization, of $130.5 million and Adjusted EBITDA
1 of $275.0 million, or 55% of revenue, for the three months ended March 31, 2021.
Intelsat s Chief Executive Officer, Stephen Spengler, said, Overall, we delivered solid quarterly operational results which now include our Gogo Commercial Aviation business. Network Services benefited from new business from mobility and fixed networ
Justice Department objects to National Rifle Association s bankruptcy plan By Khristopher J. Brooks NRA files for bankruptcy
The U.S. Department of Justice is objecting to the National Rifle Association s bankruptcy plan, pointing to what the agency says is mismanagement of funds by leaders of the gun advocacy organization.
Lisa Lambert, assistant U.S. Trustee in the DOJ s Trustee Office, said Monday during the NRA s bankruptcy case in Texas that the group s longtime CEO, Wayne LaPierre, used NRA funds for his own purposes and failed to properly safeguarded the group s financial records. The record is unrefuted that Wayne LaPierre s personal expenses were made to look like business expenses, she said in a hearing in the United States Bankruptcy Court for the Northern District of Texas.
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US: Valaris successfully completes restructuring
03 May 2021
Improves Liquidity Position by Receiving $520 Million Capital Injection
Valaris, the industry leader in offshore drilling services across all water depths and geographies, has announced that, on April 30, 2021, the Valaris Group has successfully completed its financial restructuring and emerged from chapter 11. The Valaris Group s Plan of Reorganization was approved and confirmed by the United States Bankruptcy Court for the Southern District of Texas on March 3, 2021. Valaris now moves forward with a strengthened capital structure, eliminating $7.1 billion of debt and securing a $520 million capital injection by issuing $550 million of new secured notes maturing in 2028. As of April 30, 2021, Valaris had $615 million of available cash, $40 million of restricted cash and $550 million of debt.
Offshore drilling contractor Valaris,
which had filed for bankruptcy in August 2020, said Monday it had on April 30, 2021, successfully completed its financial restructuring and emerged from chapter 11.
The Valaris Group s Plan of Reorganization was approved and confirmed by the United States Bankruptcy Court for the Southern District of Texas on March 3, 2021. Valaris now moves forward with a strengthened capital structure, eliminating $7.1 billion of debt and securing a $520 million capital injection by issuing $550 million of new secured notes maturing in 2028. As of April 30, 2021, Valaris had $615 million of available cash, $40 million of restricted cash and $550 million of debt, the company said. Today marks an important milestone as the company emerges from chapter 11 with a significantly strengthened capital structure. The overwhelming support of our noteholders, bank lenders, and voting shareholders has been invaluable. I want to thank everyone for their continued