LONDON (Thomson Financial) - Avanti Communications Group PLC said it has s
igned 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.
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.
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