ARTICLE · 16 FEBRUARY 2017

Space Business Review January 2017

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On January 6, Avanti Communications (Avanti) announced that its financial restructuring plan was approved by 91.85% of its bondholders, clearing the 90% threshold required for the plan to be executed.

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Dara Panahy

Bijan Ganji

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AVANTI RESTRUCTURING APPROVED

On January 6, Avanti Communications (Avanti) announced that its financial restructuring plan was approved by 91.85% of its bondholders, clearing the 90% threshold required for the plan to be executed. According to Avanti, the restructuring will produce $242m in liquidity by securing new cash and deferring interest repayments. The additional liquidity will afford Avanti significant working capital to grow its capital structure and complete and launch its HYLAS-4 high-throughput Ka-band satellite, which is currently being manufactured by Orbital ATK Inc. and will carry 66 fixed beams covering Africa and Europe and four steerable beams that can serve Africa or Latin America.

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Space Business Review January 2017

AVANTI RESTRUCTURING APPROVED

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