Avanti Completes Hylas 4 Financing
[Via Satellite 08-18-2015] Avanti Communications Group announced the completion of financing for its Hylas 4 satellite. The company has successfully placed $125 million in Senior Secured Notes due 2019 under its existing indenture. Mast Capital Management, a Boston-based investment firm, led and managed the investor group.
Hylas 4 remains on-track for launch in early 2017 and will complete Avanti’s coverage of the Europe, Middle East, and Africa (EMEA) region. The majority of the satellite’s capacity will serve high-growth markets in Africa.
“Today’s funding for Hylas 4 enables us to complete our coverage of EMEA in early 2017. Avanti now offers more High Throughput Satellite capacity to its telco customers in Africa than any other satellite operator, enabling us to build strong partnerships for the long term,” said David Williams, Avanti chief executive.