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Kekst CNC is guiding the bankruptcy of Intelsat, the debt-burdened operator of the world's biggest commercial satellite fleet, as it positions for the federal government's auction of the airwaves for use in 5G networks.
Stephen Spengler, CEO, said Intelsat is respected for its quality, innovation and premium services but success came despite being burdened by substantial legacy debt.
The financial restructuring will enable it "to invest and pursue our strategic growth objectives, build on our strengths, and serve the mission-critical needs of our customers with additional resources and wind in our sails," he said.
Private equity firms BC Partners and Silver Lake own big chunks of Intelsat.
Kekst CNC's Sherri Toub, Ruth Pachman and Ross Lovern are working the Intelsat filing.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
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