O3b Networks Limited
O3b Networks (O3b) is building a constellation of eight medium earth orbit communication satellites. The satellites will provide a new high quality global internet backbone for telecommunications operators and internet service providers, focusing on emerging markets. The satellites will orbit the Earth around the equator at an altitude of approximately 8,000km resulting in faster data transmission time than geo stationary satellites which are further away from the Earth. Operating in the Ka band, the O3b constellation will combine a global reach (+/- 45° of the equator) with fibre optic speeds.
O3b has operational and financial support from its investors, which in addition to Satya Capital include SES, Google, Liberty Global, HSBC Principal Investments, Northbridge Venture Partners, Allen & Company, Development Bank of Southern Africa (DBSA), and Sofina. Moez Daya is Satya Capital’s representative on O3b’s board of directors.
In November 2010 O3b Networks completed a $1.2bn fundraising, to finance fully the construction and launch of the satellite constellation. This included a $510m Coface-backed senior debt facility, a $115m senior debt facility and a $145m mezzanine facility. Debt financing is provided by a consortium of HSBC, DBSA, the Africa Development Bank (AFDB), Deutsche Entwicklungs Gesellschaft (DEG), Société de Promotion et de Participation pour la Coopération Economique (PROPARCO), Nederlandse Financierings Maatschappij voor Ontwikkelingslanden N.V. (FMO), International Finance Corporation (IFC), ING, Crédit Agricole Corporate & Investment Bank (CA-CIB) and Dexia.