The US Bankruptcy Court gave an amended order to Intelsat S.A. to obtain DIP financing on a final basis on September 14, 2021. As per the order, the debtor has been authorized to obtain a multi-draw term loan credit facility in the amount of $1.5 billion from DIP lenders with Credit Suisse AG, Cayman Islands Branch, acting as administrative agent. The amount of each ABR loan would carry an interest rate equal to the applicable ABR margin plus the ABR in effect from time to time while the principal amount of each LIBOR Loan shall bear interest equal to the applicable LIBOR margin in effect from time to time plus the relevant LIBOR Rate. As per the terms of the DIP agreement, the loan carries an upfront fee of 1.5% p.a. The DIP facility would mature on July 13, 2022 or on the effective date of the plan or on the date of consummation of the sale of substantially all assets, whichever is earlier. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $0.40 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral.