LONDON (Alliance News) - Avanti Communications Group PLC said Friday that it has signed a multi-region distribution contract with European telecommunications company, StarDSL AG.
The multi-year contract will bring StarDSL AG's service to more than twenty countries across Europe and the Middle East, said Avanti.
Through the adoption of Avanti's HYLAS 1 and HYLAS 2 satellites, StarDSL AG will deliver satellite broadband services to a range of consumer and enterprise markets.
No financial terms of the deal were disclosed.
The company said last month it had raised USD157.5 million in bond proceeds, which it said it will use to commence the HYLAS 4 satellite project, a new satellite launching in 2017 which will serve new markets in Africa and provide expansion capacity for existing customers in areas of Europe and Africa covered by the HYLAS 1 and 2 satellites..
Avanti said it successfully placed USD150 million in senior secure notes due 2019, raising proceeds of USD157.5 million. It said the notes were the subject of an amendment agreement to permit the issuance of new debt.
Shares in Avanti Communications were trading 2.86% higher at 253.035 pence per share shortly after the market open Friday.
By Alice Attwood; aliceattwood@alliancenews.com; @AliceAtAlliance
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