Intelsat files Chapter 11 bankruptcy, says has $1B in new money to finance FCC C-band clearing

by Peter B. de Selding

PARIS — Intelsat filed for Chapter 11 bankruptcy protection on May 13, saying it had received commitments for $1 billion in debtor-in-possession funding to invest in clearing C-band spectrum in the United States and qualify for $4.87 billion in U.S. Federal Communications Commission (FCC)-promised incentive payments.

Intelsat’s decision, whose timing was triggered by a default on one of its bond payments, is a partial answer to a question raised in the hallways of every satellite conference in recent years: With some $14 billion . . .

To view the entire article, become a subscriber!

You may also like