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London-based satellite operator Avanti Communications has issued an £80 million (€113m) financial bond (Senior Secured Notes) to help fund future satellite activity.
Avanti specialises in providing bandwidth over Europe and Africa.
Avanti stated some months ago that it would be raising extra cash in order to pay for a new satellite, Hylas-4. The satellite is due for launch in 2017 and will serve what the company describes as ‘high growth’ areas of Africa.
The investor is Mast Capital Management, a fund backed by financial giant KKL.
Avanti is also raising fresh capital, and issued 3.592 million new shares at 200.65p each in order to raise a further £7.2 million net of expenses.