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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.” |
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