19 Apr 2010 10:15
Inmarsat completes Euro 225 million financing
agreement with the European Investment Bank
to fund the Alphasat satellite programme
London, UK, 19 April 2010 - Inmarsat plc (LSE: ISAT) announces that it has completed an 8-year facility agreement from the European Investment Bank ("EIB") to fund the build and launch of the Alphasat satellite. Under the agreement Inmarsat may borrow up to Euro 225 million and expects to make an initial draw down under the facility during the second quarter.
The EIB financing will rank as senior secured creditor of Inmarsat Investments Limited, a direct subsidiary of Inmarsat Group Limited.
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| Simon Ailes Inmarsat plc + 44 (0)207 728 1518 |
About Inmarsat
Inmarsat plc (LSE: ISAT) is the leading provider of global mobile satellite communications services. Since 1979, Inmarsat has been providing reliable voice and high-speed data communications to governments, enterprises and other organizations, with a range of services that can be used on land, at sea or in the air. The company's services are delivered through a global network of more than 400 distribution partners and service providers operating in 100 countries. For the year ended 31 December 2009, Inmarsat plc had total revenue of US$1,038.1 million (2008: US$996.7 million) with an EBITDA of US$594.2 million (2008: US$531.2 million). For more information, please visit www.inmarsat.com.