Satmex Exits Bankruptcy

Satmex Exits Bankruptcy

Corporate & Sovereign Strategy

On the back of last Month’s $325m bond sale, Satmex has officially emerged from bankruptcy, it says. Under the Mexican communication company’s prepackaged plan, Satmex’s used proceeds from the new bond sale, now its only outstanding indebtedness, to repay 2011 bondholders in full. The remaining net proceeds from the sale and the proceeds of a completed $96.25m equity rights offering to holders of Satmex’s 2013 bonds will be used to fund the completion of the Satmex 8 satellite. If all goes accor

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