Permira secures $280m ABS refinancing
June 13, 2017
By Chris Forrester
Asia Broadcast Satellite (ABS), majority owned by private equity investment company Permira since 2010, has been refinanced by Permira.
ABS had been up for sale since May last year. Permira acquired ABS in 2010, paying about $242 million for the Hong Kong-based (but Bermuda headquartered) satellite operator. Its satellite operational base is at Subic Bay in the Philippines.
The refinancing sees an overall $280 million borrowed from 14 lenders. $250 million is in the form of a 5-year term loan, while the remaining $30 million is in revolving credit.
ABS has very much been on an expansionist trail, with a recent DTH service deal with Ghana’s Ziptv.