Satya Capital has partnered with Development Bank of Southern Africa (DBSA) and Sofina to join existing investors in providing $230m in new equity investment to emerging markets focused satellite communications services company, O3b Networks.
The trio joins existing shareholders including Google, North Bridge Venture Partners and Allen & Company, with SES, Liberty Global and HSBC Principal Investments, in the new equity investment.
The financing will see the company through to the launch of its first satellites to provide low-latency, fiber-quality internet connectivity between developing markets and the global internet infrastructure.
The funding is part of a $1.2billion financing in total funding the company has so far received, which includes a $510million coface-backed senior debt facility from HSBC, ING, CA-CIB and Dexia. The deal also includes a $115millin senior debt tranche and a $145million mezzanine facility from HSBC Principal Investments, DBSA, Africa Development Bank, DEG, Proparco, FMO, the International Finance Corporation and the Emerging Africa Infrastructure Fund.
The funding has $410m in equity financing, of which US$230m is new equity investment
O3b Networks is building a new fiber-quality, satellite-based, global Internet backbone for Telecommunications Operators (Telcos) and Internet Service Providers (ISPs) in emerging markets