Intelsat Said to Weigh Chapter 11 Filing Over C-Band Pay (1)

Intelsat SA is considering a possible Chapter 11 bankruptcy filing if U.S. regulators don’t increase the amount of compensation the company would receive for giving up some of its airwaves, a person close to the company said.

Intelsat has hired bankruptcy experts at Kirkland & Ellis LLP to prepare for possible restructuring, said the person who spoke on condition of anonymity because the matter isn’t public.

Intelsat plunged as much as 34% to $2.61 before trading was paused for volatility. Intelsat bonds led high-yield declines, as its 9.5% notes due in February 2023 fell 12.3 cents on the dollar to ...