Satellite fleet operator Avanti, its options narrowing, offers $557M debt-for-equity swap

by Peter B. de Selding

PARIS — Satellite fleet owner Avanti Communications Group, which has been in precarious circumstances for at least two years, on Dec. 13 said it would seek debt- and shareholder approval to swap $557 million in debt for new equity that would leave Solus Alternative Asset Management LP as the dominant shareholder.

London-based Avanti said it would seek shareholders’ OK to dispense with a stock-market regulation that would require Solus, once the debt-for-equity swap was complete, to make an offer for remaining Avanti shares.

Avanti will need . . .

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