Intelsat Achieves Support of Nearly 75% of Funded Debt on Comprehensive Financial Restructuring
Key Creditor Groups Agree to Vote in Favor of Amended Plan of Reorganization
Path to Emergence by End of 2021, with Company’s Debt Reduced by More Than Half
The Company has filed an Amended Plan of Reorganization in its Chapter 11 proceedings pending before the
The Company is seeking Court approval of the Disclosure Statement and to establish procedures to solicit votes on the Amended Plan at a hearing scheduled for
Today’s filings and the widespread consensus in support of the Amended Plan help to achieve completion of the financial restructuring process and the Company’s emergence from Chapter 11 by the end of 2021. The Amended Plan provides that Intelsat will emerge as a private company, with the support of new equity owners, to best advance its strategic objectives and accelerate its growth trajectory, with a path to becoming publicly traded again at some point in the next five years.
Over the course of the financial restructuring process, Intelsat has advanced on a number of technological innovations. Intelsat is leveraging its unparalleled global orbital and spectrum rights, scale, and partnerships to build the world’s first global 5G satellite-based, software-defined, unified network of networks. The Intelsat network will be capable of supporting virtually any access technology, enabling the next generation of global mobility, IoT, and 5G services with never-before-seen simplicity, coverage, economics, and performance.
Additional information regarding Intelsat’s financial restructuring is available at Intelsatonward.com. Court filings are available at https://cases.stretto.com/intelsat, by calling the Company’s claims agent, Stretto, at (855) 489-1434 (toll-free) or (949) 561-0347 (international), or by emailing email@example.com.
As the foundational architects of satellite technology, Intelsat operates the world’s most trusted satellite telecom network. We apply our unparalleled expertise and global scale to connect people, businesses and communities, no matter how difficult the challenge. Intelsat is building the future of global communications with the world’s first hybrid, multi-orbit, software-defined 5G network designed for simple, seamless and secure coverage precisely when and where our customers most need it. Follow the leader in global connectivity and “Imagine Here,” with us, at Intelsat.com.
Certain statements herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements contain words such as “expect,” “anticipate,” “could,” “should,” “intend,” “plan,” “believe,” “seek,” “see,” “may,” “will,” “would,” or “target.” Forward-looking statements are based on management’s current expectations, beliefs, assumptions, and estimates and may include, for example, statements regarding (i) the voluntary cases commenced by the Company and certain of its subsidiaries (the “Chapter 11 Cases”) under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the
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