Space Business Review - September 2016

S7 AGREES TO ACQUIRE SEA LAUNCH

On September 27, CJSC S7 Group (S7), Russia's largest private aviation holding company, signed an agreement to acquire the assets of Sea Launch AG (Sea Launch), including its Sea Launch Commander and Odyssey vessels, from OAO S. P. Korolev Rocket and Space Corporation Energia for approximately $150m. S7 hopes to position Sea Launch to resume performance of launch services using the Zenit- 3SL launch vehicle by late 2018. The acquisition remains subject to government regulatory approvals in several countries, including the United States and Russia.

INMARSAT ISSUES >$1B IN BONDS

On August 31, Inmarsat plc (Inmarsat) closed a $650m offering of 3.875% convertible notes due 2023, the net proceeds of which will be applied, in part, to fund the $390m repurchase of its $287.7m outstanding 1.75% convertible notes due 2017. On September 22, Inmarsat, through wholly-owned subsidiary Inmarsat Finance plc, closed a $400m offering of 6.5%