4 Jul 2017 09:30
Avanti Communications Group plc
Announces Closing of $100 Million Super Senior Facility
4 July 2017
As announced on 16 June 2017, Avanti Communications Group plc (the "Company") announces that it has closed a new $100 million three-year super senior facility (the "Super Senior Facility"). The Company has drawn the full $100 million under the Super Senior Facility and will use the proceeds to replace an existing undrawn higher cost $50 million debt facility and complete the construction and launch of the Company's HYLAS 4 satellite. Subject to certain conditions, a portion of the proceeds may also be used to redeem or repurchase some of the Company's outstanding high yield notes.
This announcement contains inside information
Important Notices
This announcement is for information purposes only and is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise. The distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.
In particular, this announcement is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the United States Securities Act of 1933. Any securities mentioned herein have not been and will not be registered under the United States Securities Act of 1933, and no public offering will be made in the United States.
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For further information please contact:
Montfort:Nick Miles / James Olley | +44 (0)203 770 7909 |
Redleaf:Lara Pyliotis | 44 (0)207 382 4763 |
Cenkos Securities plc Max Hartley (Nomad) / Julian Morse | +44 (0) 20 7397 8900 |
Notes to Editors
About Avanti Communications
Avanti connects people wherever they are - in their homes, businesses, in government and on mobiles. Through the HYLAS satellite fleet and more than 180 partners in 118 countries, the network provides ubiquitous internet service to a quarter of the world's population. Avanti delivers the level of quality and flexibility that the most demanding telecoms customers in the world seek.
Avanti is the first mover in high throughput satellite data communications in EMEA. It has rights to orbital slots and Ka-band spectrum in perpetuity that covers an end market of over 1.7bn people.
The Group has invested $1.2bn in a network that incorporates satellites, ground stations, datacentres and a fibre ring. Avanti has a unique Cloud based customer interface that is protected by patented technology.
Avanti Communications is listed in London on AIM (AVN: LSE).
www.avantiplc.com