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Intelsat extending deadline for debt exchange to keep OneWeb merger alive

Intelsat OneWeb Graphic

Intelsat is extending a deadline for a debt exchange in order to keep alive a planned merger with OneWeb.

Sources said Thursday that the company planned to extend the deadline for bondholders to exchange current bonds with new ones until mid-May.

The debt exchange was due to expire late Thursday, but Intelsat confirmed early Friday that it has extended the deadline to May 10.

The company required at least 85 percent of current bondholders to participate in the exchange, which is tied to the company’s planned merger with OneWeb, but some observers speculate existing bondholders may be holding out for a better deal. [Reuters / Intelsat]


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Source: Space News

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Intelsat extending deadline for debt exchange to keep OneWeb merger alive

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