Inmarsat plc (LSE: ISAT) has completed an 8-year facility agreement from the European Investment Bank ("EIB") to fund the build and launch of the Alphasat satellite. Under the agreement, Inmarsat may borrow as much as 225 million euros and the Company expects to make an initial draw down under the facility during the second quarter. The EIB financing will rank as senior secured creditor of Inmarsat Investments Limited, a direct subsidiary of Inmarsat Group Limited.
Satnews Daily
April 21st, 2010
Inmarsat... Funding Facilitated...
Inmarsat plc (LSE: ISAT) has completed an 8-year facility agreement from the European Investment Bank ("EIB") to fund the build and launch of the Alphasat satellite. Under the agreement, Inmarsat may borrow as much as 225 million euros and the Company expects to make an initial draw down under the facility during the second quarter. The EIB financing will rank as senior secured creditor of Inmarsat Investments Limited, a direct subsidiary of Inmarsat Group Limited.