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Intelsat Plunges After Report Bankruptcy Filing May Come Tonight

May 13, 2020, 5:12 PM

Intelsat fell as much as 16%, most intraday since April 21, after a Reorg report said it is preparing to file for Chapter 11 as soon as tonight after efforts to hammer out an out-of-court transaction failed to gain enough support.

  • Intelsat still negotiating terms for debtor-in-possession financing: Reorg citing unnamed sources
  • Intelsat declined to comment to Bloomberg on the Reorg report
  • NOTE: May 12, Intelsat Bonds Drop Ahead of Possible Bankruptcy Filing Trigger
    • April 14, Intelsat Seeks Bankruptcy Loan While Awaiting C-Band Sale

To contact the reporter on this story:
Joshua Fineman in New York at jfineman@bloomberg.net

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