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Speedcast restructuring approved by US bankruptcy court

Monday 25 January 2021 | 10:36 CET | News
Speedcast said the US Bankruptcy Court for the Southern District of Texas has confirmed its plan to emerge from bankruptcy, clearing the path for the company to complete its Chapter 11 process. Speedcast expects to receive final regulatory approvals and satisfying customary closing conditions by the end of the first quarter. The plan would provide Speedcast with a new USD 500 million equity investment, led by affiliates of Centerbridge Partners, and a reduction of all of the USD 634 million senior secured debt of the company. 

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Categories: Broadcast & Satellite
Companies: SpeedCast
Countries: United States
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