Avanti receives approval for financial restructuring
February 15, 2021
By Chris Forrester
London-based Avanti Communications has received all the necessary approvals to increase its borrowings.
The end result is a capital injection of $30 million and taking its basket of borrowings from $145 million to $190 million (which includes other obligations).
Avanti received consent approval from 78.49 pe rcent of note holders.
The approvals and further borrowing also eliminate the risk of failure to honour the company’s obligations regarding the refinancing of the Super Senior Facility debt which was due on February 8th.