Intelsat is a multinational satellite services provider, delivering services to commercial, governmental, and military organizations. Operating one of the world's largest integrated satellite and terrestrial networks, the company offers video broadcasting, broadband connectivity, and secure satellite communications. Intelsat partners with organizations like Vodafone, Gilat Satellite Networks, and SKY Perfect JSAT Corporation, and works with launch providers such as Arianespace and International Launch Services to manage its satellite program from design and construction through launch and in-orbit operations.
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Intelsat formally notified the U.S. Federal Communications Commission on 2020-05-26 that it will participate in the FCC’s $9,700,000,000 accelerated C-band spectrum clearing program.
Intelsat estimates it will need to spend $1,600,000,000 on new satellites, launches, and ground infrastructure to clear 300 megahertz of spectrum by December 2023.
The FCC required both Intelsat and SES to commit to participation before commencing the accelerated clearing program.
Intelsat plans to eliminate around half of its $15,000,000,000 debt load through its Chapter 11 bankruptcy.
Intelsat estimates the Chapter 11 bankruptcy process will take around six to 12 months to complete.
The $1,000,000,000 debtor-in-possession financing will allow Intelsat to procure C-band replacement satellites needed to participate in the FCC’s upcoming spectrum auction.
Intelsat has $1,000,000,000 of debtor-in-possession financing to support buying a series of second-generation satellites while in bankruptcy.
To receive $4.86 billion, Intelsat must compress customers from 500 megahertz of C-band into 200 megahertz by December 2023.
Intelsat has lined up $1,000,000,000 of new financing to fund ongoing operations and allow new investments.
Intelsat and SES are positioned to receive the largest shares of the $15,000,000,000 opportunity from the FCC’s C-band auction plan.
The FCC voted on 2020-02-28 to proceed with an auction plan that covers spectrum relocation costs for Intelsat, SES, Eutelsat, Telesat, and Embratel Star One.
Intelsat projected a $160,000,000 reduction in its 2020 revenue due to the coronavirus pandemic reducing demand for satellite Wi-Fi on airplanes and cruise ships and for occasional use television broadcasting.
Intelsat estimated it will need to spend around $1,600,000,000 on the manufacture and launch of new satellites plus video compression technology and ground signal filters to clear C-band for 0.005 kg.
Intelsat skipped a $125,000,000 interest payment in April 2020, triggering a 30-day grace period before default.
Intelsat stands to receive $4,860,000,000 in accelerated clearing payments from the FCC for rapidly exiting C-band.
Intelsat seeks nearly $5,000,000,000 from the FCC spectrum program as part of its restructuring.
Intelsat’s Galaxy-30 satellite was scheduled to launch in summer 2020 on an Ariane 5 rocket.
Intelsat secured a $1,000,000,000 debtor-in-possession financing commitment to fund continuing operations and begin clearing C-band spectrum, subject to court approval.
Intelsat estimated that $800,000,000 of those C-band clearing costs must be spent by June 2021 before receiving any FCC reimbursement.
Intelsat and SES previously said they planned to order C-band replacement satellites from U.S. manufacturers.