PARIS — Intelsat said $9.8 billion of the $14.5 billion in long-term debt it had accumulated before entering bankruptcy is subject to renegotiation as part of its Chapter 11 reorganization.
How much of this will be written off as part of a restructuring plan now being developed is unclear. Since filing for Chapter 11 protection on May 13, Intelsat has stopped paying interest on its unsecured debt, saving $102 million per month. It is continuing to pay interest on its secured debt.
Intelsat’s post . . .
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