Avanti HYLAS 2 Limited, a wholly-owned subsidiary of London-based Avanti Communications (AIM: AVN), sought senior debt funding from the Export-Import Bank of the United States (“US Ex-Im Bank”) to launch HYLAS 2, a Ka-band satellite providing coverage in the Middle East, Africa, and Eastern Europe. Avanti Communications also raised £86 million of equity through new and existing shareholders and an additional loan to be guaranteed by COFACE, the Export Credit Agency of France. Orbital Sciences Corporation of the US is the chosen contractor for the satellite with additional U.S. suppliers expected to contribute. Arianespace of France is the launch vehicle provider. The HYLAS 2 satellite is expected to launch in the first half of 2012.
