Charlie Ergen’s move into cellular telephony is proving to be costly. A $1 billion debt offering of Senior Notes by Dish Network has been priced at 7.35 per cent. The debt is due for repayment by 2028. As a comparison last week SES offered a €400 million Eurobond, also due for repayment in 2028, and […]
June 26th is ‘Bidding Day’ for OneWeb’s assets. Would-be buyers have to enter their bids for OneWeb, which is in bankruptcy. If no – or inadequate – bids are entered, then the process goes forward to an auction of assets on July 2nd. The UK government is widely reported to have joined a consortium bidding […]
Charlie Ergen’s pay-TV operation Dish Network is offering the financial market $1 billion of fresh financing in the form of new Senior Notes. The net proceeds of the offering are intended to be used for general corporate purposes. The offering of this fresh debt goes only to qualified institutional investors. Pricing and precise terms have […]
Technicolor has reached an agreement with lenders to restructure itself and provide the company with some €420 million in a new financial structure. The plan is due to be endorsed on July 20th at an extraordinary general meeting. The new lenders include Bain Capital, Alcentra and BpiFrance Participations and the scheme calls for debt equalisation […]
Quortex, a provider of a video streaming solution over the Internet, has raised €2.5 million in seed capital, in a funding round led by Elaia and Go Capital, with the participation of Unexo and Business Angels. The Quortex software solution is already used by customers such as M6 and Red Bee Media. Quortex says this […]
California-based Viasat has some inevitable anxieties about the current Covid-19 pandemic and the impact it is having on its aircraft-based In-Flight Communications and Entertainment revenues. It is borrowing $400 million (via Senior Unsecured Notes due 2028) in a private placing. Viasat says it intends to use the net proceeds from the offering to repay all […]
The Creative Industries Federation has warned of a ‘cultural catastrophe’ as research from Oxford Economics reveals that the UK’s creative industries are on the brink of devastation. The UK’s creative sector was previously growing at five times the rate of the wider economy, employing over 2 million people and contributing £111.7 billion (€125bn) to the […]
Financially challenged Technicolor is looking to strike a conciliation agreement with its existing bankers and lenders (in France described as a SFA: Sauvegarde Financiere Acceleree) and to thus restructure its obligations. Technicolor needs a two-thirds majority agreement by its lenders in order to proceed with the SFA. Alongside the SFA the technology company is looking […]
CityFibre, the UK’s third national digital infrastructure platform, is initiating a three-year recruitment and training programme to provide up to 10,000 people with jobs upgrading the UK’s digital infrastructure to full fibre. The Government has made the nationwide deployment of full fibre by 2025 a key target. According to CiyFibre, this critical initiative will underpin […]
Intelsat is in Chapter 11 bankruptcy and is restructuring itself. On June 9th, it gained bankruptcy court approval to access a $1 billion loan under ‘debtor in possession’ rules and post-petition financing. Judge Keith Phillips granted Intelsat immediate access to $500 million (out of the $1 billion) in order to keep its day-to-day operations going […]