Autor Wątek: [SN] Intelsat declares bankruptcy as means to fund C-band spectrum clearing  (Przeczytany 109 razy)

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Intelsat declares bankruptcy as means to fund C-band spectrum clearing
by Caleb Henry — May 14, 2020


Intelsat's Tysons Corner, Virginia U.S. headquarters. Credit: Intelsat

WASHINGTON — Intelsat, the world’s second largest satellite operator by revenue, filed for Chapter 11 bankruptcy protection late May 13 as a means to ease its nearly $15 billion debt load and participate in an FCC spectrum clearing program.

Intelsat said it has secured a $1 billion debtor-in-possession financing commitment that, following court approval, will allow the company to fund continuing operations and get started clearing C-band spectrum under a program that could net the operator $4.86 billion.

The Luxembourg and Virginia-based operator filed for Chapter 11 in the U.S. Bankruptcy Court for the Eastern District of Virginia, Richmond. The company operates a fleet of roughly 50 satellites, and has another, Galaxy-30, scheduled to launch this summer on an Ariane 5 rocket.

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Source: https://spacenews.com/intelsat-declares-bankruptcy-as-means-to-fund-c-band-spectrum-clearing/

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