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SpeedCast Closes US$55,000,000 Senior Secured Credit Facility

10 July, 2013

SpeedCast Group (“SpeedCast”) is pleased to announce the successful closing of a US$55,000,000 Senior Secured Credit Facility.

The proceeds of the Facility have financed SpeedCast’s acquisition of a 100% effective interest in Pactel International (“Pactel”) and refinanced existing indebtedness held by TA Associates, SpeedCast’s controlling shareholder. Pactel is a leading satellite communications services provider based in Australia. The company offers Internet, private networking and voice services to a diverse group of customers, including large oil & gas operators, telecom companies, governments and multinational mining companies. Pactel is headquartered in Sydney, with offices in Perth, Australia and Jakarta, Indonesia.

The buyout of Pactel follows the November 2012 acquisition of Australian Satellite Communications and the January 2013 buyout of Netherlands-based Elektrikom Satellite Service.

The Facility was fully funded by ING Bank N.V., Singapore Branch, as Mandated Lead Arranger, Facility Agent and Security Agent, and programs advised by Partners Group on behalf of its clients and Siemens Financial Services, Inc. as Mandated Lead Arrangers.
Commenting on the success of the financing, Pierre-Jean Beylier, CEO of SpeedCast said “We are delighted to have on board ING, Partners Group and Siemens, three top tier financial partners. Together with TA Associates, this gives SpeedCast the potential to fund further growth, both organic and by acquisition, and to take advantage of opportunities as they arise.”