Investor FAQ's
Company Information | Financial Information | Corporate Information
Company Information
What is the company's primary business?
Intelsat is a leading provider of satellite communications services worldwide, supplying video, data and voice connectivity in approximately 200 countries and territories. We provide our services utilizing our fleet of 53 satellites. We earn revenue primarily by selling satellite transponder capacity to our customers. In addition, we earn revenue through the sale of end-to-end, managed communications services that include fiber connections, teleport operations and satellite capacity.
What is the company's operating strategy?
The company's strategy is to be a global connectivity leader connecting people and businesses around the world with high-quality, flexible and innovative communications services. We intend to capitalize on our leadership position in the fixed satellite services (FSS) sector of the satellite industry to enhance our growth and cash flow from operations. Specifically, we intend to:
- Grow our business by focusing on high growth regions and applications;
- Increase our return on our asset base through disciplined management of capacity;
- Build new revenue streams by introducing new products and services; and
- Selectively pursue strategic and organic opportunities.
Describe the BC Partners transaction and its expected closing date.
On June 19, 2007, Intelsat Holdings, Ltd. ("Intelsat Holdings"), the parent of Intelsat, Ltd., entered into a Share Purchase Agreement with affiliates of funds advised by BC Partners Ltd. ("BC Partners"). The consummation of the transaction is subject to customary closing conditions, including the receipt of necessary non-U.S. approvals (all of which we believe have been obtained), compliance with the Hart-Scott-Rodino Antitrust Improvements Act (as to which we received notice of early termination with no action being taken), the receipt of approval from the Federal Communications Commission ("FCC"), and "Exon-Florio" clearance from the interagency Committee on Foreign Investment in the United States. The public comment period with respect to our FCC application expired without opposition or comment from third parties. We continue to expect that we will receive all approvals required to close the transaction during the fourth quarter of 2007 or the first quarter of 2008.
Financial Information
What long-term debt is issued by Intelsat and outstanding?
Intelsat Ltd. Debt:
- 5.25% Senior Notes due 2008 $400 million
- 7.625% Senior Notes due 2012 $600 million
- 6.5% Senior Notes due 2013 $700 million
Intelsat (Bermuda) Ltd. Debt:
- Floating Rate Senior Notes due 2013 $260 million
- 9.25% Senior Notes due 2016 $750 million
- 11.25% Senior Notes due 1016 $1,330 million
- Floating Rate Senior Notes due 2015 $600 million
- Senior Unsecured Term Loan due 2014 $1,000 million
Intelsat Intermediate Holding Company, Ltd. Debt:
- 9.25% Senior Discount Notes due 2015 $478.7 million at maturity
Intelsat Subsidiary Holding Company, Ltd. Debt:
- Senior Secured Credit Facilities due 2013 $342 million
- 8.25% Senior Notes due 2013 $875 million
- 8.625% Senior Notes due 2015 $675 million
Intelsat Corporation (formerly PanAmSat) debt:
- Senior Secured Credit Facilities due 2014 $1,623 million
- Senior Secured Credit Facilities due 2012 $329 million
- 6.375% Senior Secured Notes due 2008 $150 million
- 6.875% Senior Secured Notes due 2028 $125 million
- 9% Senior Unsecured Notes due 2014 $656 million
- 9% Senior Notes due 2016 $575 million
Is Intelsat's debt rated by any credit agencies?
Yes, Intelsat has received a credit rating from both Moody's Investor Service and Standard & Poor's Rating Services. Copies of their reports can be obtained directly from these agencies.
Does Intelsat report its results consistent with U.S. GAAP?
Intelsat's financial statements are prepared in accordance with U.S. generally accepted accounting principles (GAAP).
Where do I find a summary of Intelsat's significant accounting policies?
A summary of our significant accounting policies can be found in our annual financial reports filed with or submitted to the U.S. Securities and Exchange Commission. Copies of these reports can be obtained via the Financial Info section of this website.
Who is Intelsat's independent auditor?
Intelsat's independent auditor for the fiscal year ended 31 December 2006 is KPMG LLP.
How can I receive copies of the company's annual report and other financial information?
You can download financial information directly from the Financial Info section of this website.
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When is Intelsat's fiscal year?
Intelsat's fiscal year is the calendar year. The first quarter ends 31st March, the second quarter ends 30th June, the third quarter ends 30th September and the fourth quarter ends 31st December.
When is the company's next scheduled earnings announcement?
Intelsat posts the date of its quarterly earnings announcements on this website as soon as this information is available to the public. To see if this information has been announced for the upcoming quarter, please visit the Financial Events section of this website.
Corporate Information
When was the company founded?
We are the successor entity to the International Telecommunications Satellite Organization, formerly known as INTELSAT, which was created on an interim basis by its initial member states in 1964. INTELSAT was formally established as an intergovernmental organization in 1973 upon entry into force of an intergovernmental agreement. On 18 July 2001, INTELSAT privatized by transferring substantially all of its assets and liabilities to a new company established for this purpose, Intelsat, Ltd., and its subsidiaries. On 28 January 2005 Intelsat announced the successful closing of the acquisition of Intelsat by Intelsat Holdings, Ltd., an entity formed at the direction of funds advised by or associated with Apax Partners Worldwide LLP, Apax Partners, Inc., Apollo Management V, L.P., MDP Global Investors Limited and Permira Advisors, LLC.
In what country is Intelsat domiciled?
Intelsat, Ltd. is incorporated in Bermuda. Intelsat Global Sales & Marketing Ltd. is our global sales and marketing headquarters and is organized under the laws of England and Wales. Intelsat Global Service Corporation and Intelsat Corporation, Delaware corporations, provide technical, marketing and business support services to Intelsat, Ltd. and its subsidiaries.
Who is Intelsat Holdings and what is its relationship to Intelsat?
On 28 January 2005, Intelsat Holdings, Ltd. (formerly Zeus Holdings Limited) acquired 100% of Intelsat for total cash consideration of approximately $3 billion, or $18.75 per ordinary share, plus the assumption of nearly $2 billion in existing debt. Intelsat Holdings, Ltd. is a Bermuda company formed at the direction of funds advised by or associated with Apax Partners Worldwide, LLP, Apax Partners, Inc., Apollo Management V, L.P., MDP Global Investors Limited and Permira Advisers LLC.
Prior to the closing, Intelsat's shareholders approved the proposed acquisition at an annual general meeting held on 20 October 2004. Over 99 percent of the votes cast on the matter, representing nearly 85 percent of Intelsat's total issued and outstanding ordinary shares, voted in favor of the transaction. The approval of shareholders representing not less than 60 percent of the voting power of Intelsat's total issued and outstanding ordinary shares was required in order to approve the transaction. In December 2004, the U.S. Federal Communications Commission granted the parties' transfer of control applications relating to the proposed transaction.
