3 Jun 2014 14:00
Avanti Communications Group plc
Contract Win and possible US bond market-financed new satellite investment
Avanti has today made the first significant sale of service using its Artemis capacity, in a multi-year, multi million pound deal with a large corporate customer in a new market. The Artemis satellite was acquired from ESA in December 2013 and brought to Avanti a range of new spectrums and service capabilities.
Avanti is also considering further use of the US bond market in order to initiate the financing of a new satellite. In the light of strong performance by Avanti's unlisted 10% Senior Secured Notes due 2019 since their issue in October 2013, and given the trends in customer demand and the scale of tenders Avanti is currently receiving, Avanti is considering whether it might be able to finance a new satellite on attractive terms through a modification of its existing bond indenture and a further issue of Secured Notes. Avanti expects to update the market within two weeks on the outcome of this work.
--ENDS--
For further information please contact:
Avanti Communications Group Plc Tel: +44 (0) 20 7749 1600
David Williams, Chief Executive
Nigel Fox, Finance Director
Cenkos Securities plc Tel: +44 (0) 20 7397 8900
Max Hartley (Nomad)/Julian Morse
Jefferies Hoare Govett Tel: +44 (0) 20 7029 8000
Neil Collingridge
Tulchan Communications Tel: +44 (0) 20 7353 4200James Macey-White
About Avanti Communications
· Avanti Communications is a carriers' carrier, selling wholesale data telecoms to service providers which use them to create networks for enterprise, carrier, government and consumer users.
· Avanti Communications' network consists of:- two high throughput satellites in orbit, called HYLAS 1 and HYLAS 2; a multiband satellite called Artemis plus a fourth satellite in construction called HYLAS 3 and an international fibre network connecting data centres in several countries.
· Avanti Communications has GEO satellite network spectrum filings in the ITU Master Register for Ka band at 33.5° West and 31.0° East and for Ka, Ku, S and L-band at 21.5° East.
· Avanti Communications serves customers in Europe, Middle East and Africa.
· Visit: www.avantiplc.com