Satmex struggling to cope with debt

16 Apr 2004

Mexican satellite operator Satmex is facing the prospect of having to renegotiate its entire bank borrowing of USD555 million following the withdrawal of support from one of its main creditors, the US Export/Import Bank. Satmex, which has faced a raft of technical glitches with its operations recently, needs to solve its financing problem in order to be able to launch its new Satmex 6 satellite.