[Satellite TODAY 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.
    In its filing with the U.S. Bankruptcy Court of Delaware, 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, Alterna TV Corp. and Alterna TV International Corp., also were included in the bankruptcy filing.
    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.