Intelsat: 66% of our $15.1 billion in debt is subject to ‘compromise’ in ongoing Chapter 11 process

by Peter B. de Selding

PARIS — Satellite fleet operator Intelsat reported a decline in revenue and adjusted EBITDA for the three months ending Sept. 30, with the EBITDA drop partly due to government traffic migrating to non-Intelsat satellites on contracts managed by Intelsat.

Reporting its first full quarter in Chapter 11 bankruptcy, Intelsat said its quarterly interest expense dropped by 56%, to $138.1 million, as it stopped paying interest on unsecured debt.

Intelsat’s total debt stood at $15.2 billion as of Sept. 30. But two-thirds of it . . .

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