Intelsat has filed for Chapter 11 protection

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