4 May 2010 07:00
Inmarsat announces reorganisation plan for certain subsidiaries
London, UK: 4 May 2010. Inmarsat plc (LSE: ISAT) today announced a reorganisation plan under which the ownership of Stratos Global Corporation and its subsidiaries ("Stratos") will be transferred within the Inmarsat group. Under the reorganisation plan, Stratos will repay all of its outstanding indebtedness and become an indirect wholly-owned subsidiary of Inmarsat Group Limited. As a result of the reorganisation, which will be completed in June, Stratos will become subject to the terms of Inmarsat's outstanding debt, including the 7.375% Senior Notes due 2017. Inmarsat will use available liquidity to fund the repayment of the Stratos debt. At the end of December 2009, Inmarsat had available liquidity of US$436 million.
| Simon Ailes Inmarsat plc + 44 (0)207 728 1518 |
About Inmarsat
Inmarsat plc (LSE: ISAT) is the leading provider of global mobile satellite communications services. Since 1979, Inmarsat has been providing reliable voice and high-speed data communications to governments, enterprises and other organizations, with a range of services that can be used on land, at sea or in the air. The company's services are delivered through a global network of more than 400 distribution partners and service providers operating in 100 countries. For the year ended 31 December 2009, Inmarsat plc had total revenue of US$1,038.1 million (2008: US$996.7 million) with an EBITDA of US$594.2 million (2008: US$531.2 million). For more information, please visit www.inmarsat.com.