According to a number of reliable sources, Intelsat SA (NYSE:I) has moved ahead to extend the deadline for investors to swap their bonds over a number of weeks, and it hopes to uphold its merger with the U.S. satellite technology peer OneWeb Ltd alive.
The new move comes in a wake when the provider has been committing a lot of resources as well as redirecting a lot of energy in laying down strategies that will see it cut through to become an industry leader with the capacity to deliver high quality services as well as generate high revenues.
The company’s top executives in a press conference revealed that indeed the deadline would as matter of fact be pushed out from late Thursday to at least mid-May. For quite some time, the matter has been treated as private and confidential and thus no one was supposed to move around announcing it.
A lot is going on in the company and as a matter of fact there is much speculation. Some source close to the company that preferred that their identities be kept anonymous said that the deadline would be extended for some more days.
Some time back, some news reporters confronted some top company representatives seeking to find out their line of thought in regards to the matter. However, it was all in vain since all of them declined to comment for reasons best known to them or the company as a whole.
In an extra effort to reach out to more reliable and direct information, the group tried to reach put to engage OneWeb. However, it was a total failure since OneWeb couldn’t be immediatelty reached for comment.
Some of the provider’s debt is trading above prices that the company is presenting in the debt exchange and this is a showcasing that indeed Intelsat bondholders may be destined for even a better offer.
SoftBank Group Corp (OTCMKTS:SFTBF) when sought out to make a comment showcased reluctance in dishing out enough money to woo bondholders onboard. Not all moves by companies are to be questioned since some are for the best. Time will reveal everything we need to know as a matter of fact!
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