Page 4 - தகவல்தொடர்புகள் செயற்கைக்கோள் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Since Intelsat’s bankruptcy filing in May 2020, the company has portrayed its bankruptcy and restructuring as a triumphant march to continued and greater success, with an “Intelsat Onward” website and a tone of positivity. The latest development in the operator’s bankruptcy proceedings came in mid-February, when Intelsat announced that it had filed a plan of reorganization to emerge from Chapter 11 bankruptcy reorganization. Under the plan, which Intelsat stated was supported by its largest creditors, more than half of the company’s $15 billion in debt will be erased, leaving the operator with $7 billion in debt. Most of the  ownership of the company (95%) will be given to unsecured bondholders of the company’s Intelsat Jackson unit by converting their debt to equity, a recovery for them of about 8.5 cents on the dollar. Existing Intelsat shareholders will be wiped out. “New” Intelsat will also receive a $750 million secured credit facility.

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