New Issue: Avanti Communications prices $375 million six-year secured notes at par to yield 10%

By Paul A. Harris

Portland, Ore., Sept. 26 - Avanti Communications Group plc priced a $375 million issue of six-year senior secured notes (Caa1/B/) at par to yield 10% on Thursday, according to a syndicate source.

Jefferies LLC and UBS Investment Bank were the joint global coordinators. Jefferies, UBS and Barclays were the joint bookrunners.

The London-based satellite broadband internet services provider plans to use the proceeds to repay debt and for general corporate purposes.

Issuer:	Avanti Communications Group plc
Amount:	$375 million
Maturity:	Oct. 1, 2019
Securities:	Senior secured notes
Global coordinators:	Jefferies LLC, UBS Investment Bank
Joint bookrunners:	Jefferies LLC, UBS Investment Bank, Barclays
Coupon:	10%
Price:	Par
Yield:	10%
Call protection:	Non-callable before April 1, 2018
Trade date:	Sept. 26
Settlement date:	Oct. 3
Ratings:	Moody's: Caa1
	Standard & Poor's: B
Distribution:	Rule 144A and Regulation S for life
Marketing:	Quick to market

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