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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
- company says to co9ntunie day to day oeprations