Avanti Communications contemplates super senior facility refinancing

By Sarah Lizee

Olympia, Wash., March 28 – Avanti Communications Group plc said it is considering options to refinance its super senior facility due in June 2020.

The company will also consider increasing the new facility in the range of $225 million to $250 million in order in to complete capital projects and to provide additional working capital, according to a company announcement.

Avanti noted that based on a new cost optimization project for delivering bandwidth, which is expected to reduce the costs associated with bandwidth sales by at least 15% per annum by 2020, the company expects positive EBITDA from the bandwidth business in 2019, with further material growth in 2020.

Avanti is a London-based satellite communications provider.

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