Intelsat Eyes Wrapping Up Chapter 11 by Year-End

Intelsat hopes to emerge from Chapter 11 bankruptcy by year's end, after lining up support from key creditor groups on terms of its restructuring, it said Tuesday. Intelsat said the restructuring plan would more than halve its debt, to $7 billion. It said the amended reorganization plan (docket 20-32299) pending before the U.S. Bankruptcy Court in Richmond has support of holders of $11 billion of the company's funded debt.