Intelsat gets extra $0.5bn DiP
September 15, 2021
By Chris Forrester
Intelsat’s request to increase its Debtor in Possession (DiP) financing by a half billion dollars to a total of $1.5 billion was approved by its bankruptcy court on September 13th.
The extra cash is structured as:
– New DIP includes a $1.25 billion senior-secured term loan and a $250 million delayed-draw term loan at Libor plus 475 basis points
– Original DIP was priced at Libor plus 550 basis points
– Intelsat’s Jackson sister note-holder group will provide the new financing
The ruling allows Intelsat to continue its conventional trading despite its bankruptcy status.
Other posts by :
- Blue Origin drops passenger flights
- Bank: “Charter racing to the bottom”
- SpaceX IPO in June?
- Russia postpones Starlink rival
- Viasat taps Ex-Im Bank to finance satellite
- Bank: TeraWave not a direct threat to AST SpaceMobile
- SpaceX lines up banks for IPO
- SES to FCC: “Don’t auction more than 160 MHz of C-band”