[SatNews] New financing located by the Company will fund a most important satellite capital expenditure project...

Kingsbridge Ltd, the holding company of Asia Broadcast Satellite’s (“ABS”) group of operating companies, announced today that it has successfully closed a US$215m five year senior bank loan from a financial consortium comprising Goldman Sachs, HSBC, ING, Société Générale and Standard Chartered Bank. The financing will be used to fully fund the capital expenditure program for ABS-2, a state-of-the-art high powered satellite to be launched at 75 degrees East in 2013, as well as to provide funds for future strategic initiatives and acquisitions. Founded in 2006 by CEO Thomas Choi, ABS is one of the fastest growing fixed satellite services operators in the world and supplies bandwidth connectivity to broadcasting and telecom customers, serving over 80 customers in around 30 countries. ABS’ prime orbital locations cover 80% of the world’s population, targeting high growth markets in Asia, Russia, Africa and the Middle East. It currently has five satellites in the fleet and ABS-2 satellite in the pipeline.