Intelsat is a communications satellite services provider listed on the NY stock exchange, part of the Russell 2000 index.
has undertaken a financial restructuring
restructuring process is intended to enhance the Company’s liquidity and will likely result in a substantial reduction of Intelsat’s legacy debt burden
To facilitate the financial restructuring, Intelsat and certain of its subsidiaries have filed voluntary Chapter 11 petitions in the U.S. Bankruptcy Court for the Eastern District of Virginia, Richmond Division.
Intelsat has secured a commitment for $1 billion of new financing