Inmarsat
announces
reorganisation
plan
for
Stratos
4
May
2010.
Inmarsat
plc
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$436m.
