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Avanti Comm. Share News (AVN)
Share News for Avanti Comm. (AVN)
| Share Price: 282.75 | Bid: 281.75 | Ask: 285.00 | Change: 0.00 (0.00%) |  | ||||||
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Avanti signs 32 mln stg financing deal; confident of meeting mkt hopes UPDATE
Mon, 16th Jul 2007 08:14
(Updating to add details on pipeline proposals; Ka band frequencies)
LONDON (Thomson Finan
The company said the debt facility provides sufficient capital to complete the financing of its satellite construction, launch, insurance and operation together with working capital.
Avanti said it enters the new year with a strong pipeline of potential Hylas capacity pre-sales and that the marketing process for Hylas pre-sales began during the second half.
'The pipeline proposals under discussion with potential customers amount to total potential lifetime revenue of approximately 110 mln stg, giving us confidence in meeting market expectations this year,' the media and telecommunications company said.
It said it had completed its June year with 'trading in line with market expectations'.
The company also said it has agreed to acquire the rights to use certain new Ka band frequencies in new orbital positions covering the emerging markets. No financial details were disclosed.
The new frequencies give Avanti the option to launch additional satellites, based on the Hylas design, to cover the new markets, it added.
TFN.newsdesk@thomson.com
tsm/am/tsm/am
COPYRIGHT
Copyright AFX News Limited 2007. All rights reserved.
The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
(Updating to add details on pipeline proposals; Ka band frequencies)
LONDON (Thomson Finan
cial) - Avanti Communications Group PLC said it has signed a facility deal with a syndicate of lenders for 32 mln stg over seven years, which completes the funding for its Hylas project and added it is confident of meeting market expectations for the current year.
The company said the debt facility provides sufficient capital to complete the financing of its satellite construction, launch, insurance and operation together with working capital.
Avanti said it enters the new year with a strong pipeline of potential Hylas capacity pre-sales and that the marketing process for Hylas pre-sales began during the second half.
'The pipeline proposals under discussion with potential customers amount to total potential lifetime revenue of approximately 110 mln stg, giving us confidence in meeting market expectations this year,' the media and telecommunications company said.
It said it had completed its June year with 'trading in line with market expectations'.
The company also said it has agreed to acquire the rights to use certain new Ka band frequencies in new orbital positions covering the emerging markets. No financial details were disclosed.
The new frequencies give Avanti the option to launch additional satellites, based on the Hylas design, to cover the new markets, it added.
TFN.newsdesk@thomson.com
tsm/am/tsm/am
COPYRIGHT
Copyright AFX News Limited 2007. All rights reserved.
The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
BRIEF-Avanti Communications reports wider FY loss
LONDON, Oct 10 (Reuters) - Avanti Communications Group PLC: * FY pretax loss 16 million STG * FY revenues and other operating income i[10 Oct '12]
BRIEF-Avanti Comms says Hylas 2 successfully launched
LONDON, Aug 3 (Reuters) - Avanti Communications Group PLC: * Hylas 2 successfully launched and now in orbit ((London Equities Newsroo[3 Aug '12]
BRIEF-RESEARCH ALERT-Jefferies cuts Avanti Communications Group price target
April 3 (Reuters) - Avanti Communications Group PLC: * Jefferies cuts Avanti Communications Group Plc price target to 600P from 1,34[3 Apr '12]
BRIEF-Avanti says to raise 75 mln stg in placing
LONDON, Feb 6 (Reuters) - Avanti Communications Group PLC: * Comms group - placing of 75m to fund proposed hylas 3 satellite * Placing[6 Feb '12]
BRIEF-Avanti sells Hylas capacity for $7.3 million
LONDON, Jan 4 (Reuters) - Avanti Communications Group PLC: * Comms group - contract win * Sale of capacity on hylas 2 to insat gmbh ('[4 Jan '12]
BRIEF-Avanti signs five-year contract with AfriGlobal Communications
LONDON, Dec 13 (Reuters) - Avanti Communications Group PLC: * Comms group - contract win * Contract is valued at $4.65M over five year[13 Dec '11]
BRIEF-Avanti wins 5 mln stg Cornwall broadband funding
LONDON, Dec 6 (Reuters) - Avanti Communications Group PLC: * Contract win * Awarded a contract by the Regional Growth Fund * Awar[6 Dec '11]
BRIEF-Avanti completes Hylas 2 satellite insurance
LONDON, Oct 3 (Reuters) - Avanti Communications Group PLC: * successful placing of launch & in-orbit insurance * Completion of its lau[3 Oct '11]
