London-based speciality satellite operator Avanti Communications is going ahead and building Hylas-4. It will issue a new round of debt in the form of 10 per cent bonds, due for repayment in 2019.
Investors didn’t much like the news and marked Avanti’s share price down 37p to £2.82 on June 12th trading.
Avanti operates a small fleet of Ka-band satellites. Hylas-1 launched in 2010. Hylas-2 in August 2012. Avanti’s third satellite, Hylas-3, is scheduled to launch in Q1/2016.
Avanti made no comment other than to claim that the bond issue reflects the trend in customer orders and tenders being received. No detail as yet on who might build the new craft.