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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.
Naomi Neilson
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.”
