Avanti has today announced a refinancing of its operations with the existing bondholders providing an additional $130m of new funds on completion, with a further $112m of liquidity provided by potential interest payment deferrals up to April 2018. The company can now proceed to more than double its available Ka-band capacity by launching the HYLAS 4 satellite later this year. The focus will be on filling the capacity at planned pricing, particularly to sub Saharan Africa. Revised guidance of 35% top line growth implies a longer journey for equity holders, but that can at least continue. When 2016 accounts are available, we will reinstate our revised forecasts and a view of the equity potential.
