Speedcast post-Chapter 11: $550 million in pro forma 2020 revenue, no debt, a new bandwidth procurement strategy

by Peter B. de Selding

PARIS — If you have to go through Chapter 11 bankruptcy restructuring, the Speedcast way is better than most:

In and out in less than a year, having shed non-core businesses, with pro forma 2020 revenue of slightly more than $550 million.

All secured debt wiped off the books.

$215 million in cash, net of $285 million in previous DIP financing from the new owner, Centerbridge Partners LP.

Now . . .

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