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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
HPS Investment Partners Provides $100MM to Avanti Communications
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Lenders/Participants
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HPS Investment Parnters [Lender]
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Structure
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Super Senior Facility
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Amount
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$100.000
Million
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Borrower(s)
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Avanti Communications Group
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Description
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A $100 million three-year super senior facility. The proceeds from the Super Senior Facility replaces an existing undrawn higher cost $50 million debt facility and provides $50 million additional new liquidity and will be used to complete the construction and launch of the company's HYLAS 4 satellite and, subject to certain conditions, may be used to redeem or repurchase some of the company's outstanding high yield notes. The interest rate is 7.5% p.a, versus a rate of over 10% p.a. on the facility that is being replaced. The Super Senior Facility will close upon execution of the necessary documents which the company expects to occur on or around 21 June 2017. Upon the incurrence of the Super Senior Facility, the company will cancel all outstanding commitments for holders of its 2021 PIK Toggle Notes to purchase delayed draw notes on 30 June 2017 and 30 November 2017.
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Industry
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Telecom
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| Related Tags |
HPS Investment Partners
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ABL Advisor
Deal Tables
2025
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