S&P
Intelsat offers bondholders an early buyout
Satellite fleet operator Intelsat on May 12 offered holders of three lines of its unsecured debt the chance to cash in for between $710 and $755 per $1,000 of principal, plus an early-bird premium of $20 expiring May 25, for a maximum of $625 million. The tender's overall deadline is June 9.
Moody’s & S&P say Intelsat likely to proceed with ‘limited loan defaults’
Moody’s Investors Service and Standard & Poor’s on March 21 downgraded satellite fleet operator Intelsat’s credit rating, saying that while the company had sufficient cash flow to fund its operations it had moved a step closer to a partial loan default.
