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AVANTI COMMUNICATIONS GROUP PLC

Delayed London Stock Exchange  -  11:45 2019-09-17 am EDT
0.0526 GBX   -87.17%
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Avanti Communications : Contract Win and possible US bond market-financed new satellite investment

06/03/2014 | 11:29am EST

Avanti has today made the first significant sale of service using its Artemis capacity, in a multi-year, multi million pound deal with a large corporate customer in a new market. The Artemis satellite was acquired from ESA in December 2013 and brought to Avanti a range of new spectrums and service capabilities. 

Avanti is also considering further use of the US bond market in order to initiate the financing of a new satellite. In the light of strong performance by Avanti's unlisted 10% Senior Secured Notes due 2019 since their issue in October 2013, and given the trends in customer demand and the scale of tenders Avanti is currently receiving, Avanti is considering whether it might be able to finance a new satellite on attractive terms through a modification of its existing bond indenture and a further issue of Secured Notes. Avanti expects to update the market within two weeks on the outcome of this work.

--ENDS--

For further information please contact:

Avanti Communications Group Plc

Tel: +44 (0) 20 7749 1600

David Williams, Chief Executive

Nigel Fox, Finance Director

Cenkos Securities plc

Tel: +44 (0) 20 7397 8900

Max Hartley (Nomad)/Julian Morse

Jefferies Hoare Govett

Tel: +44 (0) 20 7029 8000

Neil Collingridge

Tulchan Communications

Tel: +44 (0) 20 7353 4200

James Macey-White

About Avanti Communications

  • Avanti Communications is a carriers' carrier, selling wholesale data telecoms to service providers which use them to create networks for enterprise, carrier, government and consumer users.
  • Avanti Communications' network consists of:- two high throughput satellites in orbit, called HYLAS 1 and HYLAS 2; a multiband satellite called Artemis plus a fourth satellite in construction called HYLAS 3 and an international fibre network connecting data centres in several countries.  
  • Avanti Communications has GEO satellite network spectrum filings in the ITU Master Register for Ka band at 33.5° West and 31.0° East and for Ka, Ku, S and L-band at 21.5° East. 
  • Avanti Communications serves customers in Europe, Middle East and Africa.
  • Visit: www.avantiplc.com
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Managers and Directors
Rob Plews Chief Financial Officer
Vikas Grover Chief Technology Officer
Alan Paul Harper Director
Richard P. Mastoloni Director
Kyle David Whitehill Director