Avanti Communications poised to win stay of execution for sale, equity injection or recapitalisation - sources

Friday, 30 September 2016, 5:32 pm

Avanti Communications is on the verge of securing an agreement with all the owners of its bonds that will see the satellite operator defer the payment of a $32.2 million coupon until 2019, according to sources familiar with the situation.

Two weeks ago Avanti, which has a $650 million debt pile, said it had begun a consent solicitation process with bondholders to delay the $32.2 million payment. In return, Avanti plans to issue a new financial instrument that matures in 2019...

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