3rd Jun 2014 13:18
LONDON (Alliance News) - Avanti Communications Group PLC Tuesday said it has won a multi-year, multi-million pound contract for service using its Artemis satellite with a corporate customer in a new market, without naming the company.
Avanti also said that it is considering further use of the US bond market in order to start the financing of a new satellite.
"Avanti is considering whether it might be able to finance a new satellite on attractive terms through a modification of its existing bond indenture and a further issue of secured notes," Avanti said in a statement.
The Artemis satellite was acquired from ESA in December last year, and brought to Avanti a range of new spectrums and service capabilities.
Avanti shares were down 0.8% at 279.25 pence Tuesday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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