Global Internet backbone company O3b Networks has raised $1.2 billion...
Global Internet backbone company O3b Networks has raised $1.2 billion total in its two rounds of financing, the company said Monday. O3b recently finished its second and final round of fundraising, giving the company enough money to launch and begin…
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operations as scheduled in 2013, said SES. O3b raised $230 million in new equity investment from previous shareholders including Google, SES, Liberty Global and HSBC, and new investors Development Bank of Southern Africa and Satya Capital, O3b said. Total equity investment is $410 million. SES said it will increase its equity investment million as much as $75 million over the next three years, taking its total investment as high as $155 million. The company said it will own 34 percent of O3b’s shares. SES said its stake is expected to rise the next two years to about 44 percent. The investor said it will also provide in-kind engineering, commercial and other support for the company. Other funding will come from a $510 million intercompany credit insurer Coface-supported debt facility, $115 million in senior commercial debt and $145 million in mezzanine debt, said O3b. The company plans to launch a network of medium-earth-orbit satellites to provide a global backbone for telecom and Internet service providers.