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SpeedCast buys Pactel

SpeedCast has announced the successful closing of a US$55 million Senior Secured Credit Facility, whose proceeds have financed its acquisition of a 100 per cent effective interest in Pactel International.

The new credit facility also allowed the company to refinance existing indebtedness held by TA Associates, its controlling shareholder.

Pactel is a satellite communications services provider headquartered in Sydney (Australia). The company offers internet and voice services to customers that include oil & gas operators, telecom companies, governments and mining companies.

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, 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, as mandated lead arrangers.

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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