Avanti Communications Group Plc Closing of $100 Million Super Senior Facility (0475K)
04 July 2017 - 6:30PM
UK Regulatory
TIDMAVN
RNS Number : 0475K
Avanti Communications Group Plc
04 July 2017
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.
--ENDS--
For further information please contact:
Montfort:
Nick Miles / James Olley +44 (0)203 770 7909
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Redleaf:
Lara Pyliotis 44 (0)207 382 4763
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Cenkos Securities plc
Max Hartley (Nomad) /
Julian Morse +44 (0) 20 7397 8900
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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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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