{"id":85046,"date":"2011-04-09T21:13:03","date_gmt":"2011-04-09T13:13:03","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/satmex-files-for-u-s-bankruptcy-protection\/"},"modified":"2011-04-09T21:13:03","modified_gmt":"2011-04-09T13:13:03","slug":"satmex-files-for-u-s-bankruptcy-protection","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/satmex-files-for-u-s-bankruptcy-protection\/","title":{"rendered":"Satmex Files for U.S. Bankruptcy Protection"},"content":{"rendered":"<p>\n[04-11-11] Mexican FSS operator <strong>Satelites Mexicanos S.A. de C.V. <\/strong>(Satmex) has filed for bankruptcy protection in the United States as part of a prearranged plan with creditors to reduce its debt, Satmex announced April 8.<br \/>\n&nbsp;&nbsp;&nbsp; In its filing with the <strong>U.S. Bankruptcy Court of Delaware<\/strong>, the company said it would raise about $325 million in new financing by issuing high-yield debt, which would then be used to repay its first priority notes and fund the completion of Satmex 8, a satellite scheduled to be launched in 2012. The operator also said it could raise $96.2 million of new equity through a rights sale. Satmex listed total assets worth $441.6 million and liabilities of $531.6 million. Two units, <strong>Alterna TV Corp. <\/strong>and <strong>Alterna TV International Corp.<\/strong>, also were included in the bankruptcy filing. <br \/>\n&nbsp;&nbsp;&nbsp; The prearranged bankruptcy structure allowed Satmex and its creditors to agree on a reorganization plan prior to the bankruptcy filing. Companies that make prepackaged filings are able to exit court protection in 30 days to 90 days.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[04-11-11] Mexican FSS operator Satelites Mexicanos S.A. de C.V. (Satmex) has filed for bankruptcy protection in the United States as part of a prearranged plan with creditors to reduce its debt, Satmex announced April 8. &nbsp;&nbsp;&nbsp; In its filing with the U.S. Bankruptcy Court of Delaware, the company said it would raise about $325 million [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-85046","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/85046"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=85046"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/85046\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=85046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=85046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=85046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}