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CORRECT: Intelsat Gets Court Approval to Tap $1b in Bankruptcy Financing

June 9, 2020, 4:44 PM

(Corrects details of hearing on June 30 in third bullet.)Intelsat SA can have access to its $1b debtor-in-possession loan, including immediate access to $500m of liquidity, to finance its operations during bankruptcy, a judge ruled.

  • Bankruptcy Judge Keith Phillips approved the motion in an omnibus hearing Tuesday
  • The bankrupt satellite company also received court approval for a raft other motions, including access to its cash management system and cash collateral, as well as its C-Band clearance motion
  • A final hearing is scheduled for June 30 on the International Telecommunications Satellite Organization’s motion for relief from automatic stay
  • The...
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