Avanti Communications looking to issue more secured notes

By Marisa Wong

Madison, Wis., June 3 - Avanti Communications Group plc said it is considering a further issue of secured notes and a modification of its existing bond indenture to help finance a new satellite.

Avanti said it is looking into using the U.S. bond market given the strong performance of its 10% senior secured notes due 2019 issued in October 2013.

The company expects to give an update on this financing within two weeks.

On Tuesday the company said it made the first significant sale of service using its Artemis satellite in a multi-year multi-million pound deal with a large corporate customer. The Artemis satellite was acquired from ESA in December 2013.

Avanti is a London-based satellite operator with customers in Europe, Middle East and Africa.

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