ABS refinancing
March 9, 2017
By Chris Forrester
For the past year or so, Hong Kong-based (but Bermuda-headquartered) Asia Broadcast Satellite (ABS) has been up for sale. A sale could still happen, and in January we reported that China Communication Technology could be a possible buyer and Permira, which is ABS’s major shareholder, could still be seeking an exit.
Meanwhile, some of ABS’s debts have been restructured. It has refinanced its existing export-credit debt, and thus lowered the overall interest due on the debt.
According to reports the move, in lowering ABS’s debt servicing costs, allows the satellite operator to start funding ABS-8, its latest spacecraft. However, building ABS-8 still needs some sort of export credit funding to be in place.
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