Speedcast restructuring approved by US bankruptcy court

Monday 25 January 2021 | 10:36 CET | News
Speedcast said the US Bankruptcy Court for the Southern District of Texas has confirmed its plan to emerge from bankruptcy, clearing the path for the company to complete its Chapter 11 process. Speedcast expects to receive final regulatory approvals and satisfying customary closing conditions by the end of the first quarter. The plan would provide Speedcast with a new USD 500 million equity investment, led by affiliates of Centerbridge Partners, and a reduction of all of the USD 634 million senior secured debt of the company. 

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Categories: Broadcast & Satellite
Companies: SpeedCast
Countries: United States
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Speedcast delivers enhanced comms services to Stena Drilling

Published 13 Apr 2021 12:14 CET | United Kingdom
Aberdeen-based drilling contractor Stena Drilling has signed a 5-year contract with Speedcast, communications and IT services ...

Speedcast emerges from bankruptcy

Published 12 Mar 2021 09:01 CET | United States
Speedcast said it has successfully completed its restructuring process and emerged from bankruptcy under new owner Centerbridge ...

Speedcast launches new IoT platform

Published 11 Dec 2020 15:34 CET | World
Speedcast International has launched a new IoT platform designed to simplify connectivity, provisioning and device management ...

Speedcast sells Speedcast Managed Services to customer NBN Co

Published 30 Oct 2020 14:31 CET | Australia
Speedcast said it sold some of the functions of its Speedcast Managed Services to Australian government-owned infrastructure ...

Speedcast gets buy-out offers from largest creditors, CEO steps down

Published 01 Sep 2020 09:28 CET | United States
Speedcast International has received proposals from two of its largest lenders to recapitalise the group and possibly take the ...

Speedcast executes new bandwidth agreement with Intelsat

Published 29 Jul 2020 09:39 CET | World
Speedcast International signed a new contract with Intelsat. Under the new multi-year contract, Speedcast will leverage ...

Speedcast files for Chapter 11 protection

Published 23 Apr 2020 13:15 CET | United States
Speedcast International has filed for Chapter 11 bankruptcy protection in the US while it undergoes a debt restructuring. The ...