• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • NEWS:
  • SatNews
  • SatMagazine
  • MilSatMagazine
  • SmallSat News
  • |     EVENTS:
  • SmallSat Symposium
  • Satellite Innovation
  • MilSat Symposium

SatNews

  • HOME
  • Magazines
  • Events
  • Perspectives
  • Industry Calendar
    • IN PERSON
    • VIRTUAL
  • Subscribe

Forrester’s Digest: Intelsat Receives Support Of Some Of The Firm’s Major Debt Holders

August 26, 2021

Intelsat has told its Chapter 11 bankruptcy court that it has achieved the support of some of its major debt holders.

Intelsat says that it could lead to a “comprehensive” financial restructuring that would reduce the operator’s debt by more than half – from almost $15 billion (€12.7 billion) to $7 billion.

The proposal, which comes with Intelsat’s Amended Plan of Reorganisation, has to be approved by its bankruptcy court. If accepted, it could mean Intelsat exiting bankruptcy by the end of this year.

“The Amended Plan has the support of holders of approximately $11 billion, or nearly 75 per cent, of the Company’s funded debt. These supporting creditors have executed a Plan Support Agreement that binds their support for the Company’s Amended Plan,” stated Intelsat.

The Amended Plan provides that Intelsat will emerge as a private company, with the support of new equity owners, to best advance its strategic objectives and accelerate its growth trajectory, with a path to becoming publicly traded again at some point in the next five years.

Intelsat’s 607-page Plan document was filed with the bankruptcy court on August 24th. There is a scheduled hearing before Judge Keith Phillips on September 1st.

Filed Under: Forrester, Legal

Primary Sidebar

Most Read Stories

  • CORRECTION: Blue Origin launches their 5th human spaceflight mission
  • neXat empowers affordable satellite internet for Indonesian businesses 
  • Satellogic is a finalist for “Company Award 2022” by the European Association of Remote Sensing Companies
  • UPDATE 6: Lunar Transfer Orbit achieved by Rocket Lab for the NASA CAPSTONE smallsat — 1st deep space mission success for the company
  • SES and Vodafone PNG to deliver 4G and 5G services to underserved areas in Papua New Guinea

About Satnews

  • Contacts
  • History

Archives

  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020

Secondary Sidebar

x
Sign up Now (For Free)
Access daily or weekly satellite news updates covering all aspects of the commercial and military satellite industry.
Invalid email address
Notify Me Regarding ( At least one ):
We value your privacy and will not sell or share your email or other information with any other company. You may also unsubscribe at anytime.

Click Here to see our full privacy policy.
Thanks for subscribing!