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Kacific-1 to launch into space for Asia-Pacific internet access

A satellite launched on a Falcon 9 rocket will provide internet to the Asia-Pacific due in part to a deal closed by Gilbert + Tobin.

January 13, 2020 • By Naomi Neilson
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Firm: Gilbert + Tobin (H.R.L. Morrison & Co)

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Deal: Gilbert + Tobin (G+T) assisted alternative asset manager H.R.L. Morrison & Co (MCo) in a mezzanine facility advanced by one of MCo’s managed clients to assist Singapore’s Kacific Broadband Satellites Group.

 
 

Value: Undisclosed.

Area: Banking and infrastructure.

Key players: The team was led by partner Robert Trowbridge, supported by lawyer James Frixou consultant Mark Nichol and lawyer Amanda Atkins

Deal significance: The deal will see MCo assisting in the funding of the design, manufacture and launch of Kacific-1, the first satellite which launched on SpaceX’s Falcon 9 rocket on 17 December 2019.

Kacific-1 will provide internet connectivity across more than 25 Asia-Pacific countries. It’s overall financing package comprised $US160 million long-term credit facilities from a group of Asian and European financiers with warrant options issued.

Mr Trowbridge and Mr Frixou said: “We are proud to have been involved in the first satellite launch and financing for Kacific-1 which will bring fast and affordable internet services to millions living in remote communities in the Asia-Pacific region.”

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Naomi Neilson
Naomi Neilson
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly, as well as other titles under the Momentum Media umbrella. She regularly writes about matters before the Federal Court of Australia, the Supreme Courts, the Civil and Administrative Tribunals, and the Fair Work Commission. Naomi has also published investigative pieces about the legal profession, including sexual harassment and bullying, wage disputes, and staff exoduses. You can email Naomi at: naomi.neilson@momentummedia.com.au.
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