Intelsat to renegotiate debt

Intelsat filed for Chapter 11 reorganisation on May 13th, and more details are now emerging as to how it hopes it can restructure its debts and financial obligations.

Bankruptcy protection means it does not have to pay interest on its unsecured debts, and a saving of some $102 million each month. But it has to pay interest on secured debts.

Source: Intelsat to renegotiate debt