K&L Gates has advised Singapore-based Kacific Broadband Satellites Pte Ltd on a US$147 million financing deal for a condominium satellite called “Kacific-1”, which is based on the Boeing 702 satellite platform and will cover 20 Pacific and South East Asian nations.
The satellite is co-owned with SKY Perfect JSAT Corporation, which will use its half of the payload, JCSAT-18, to provide satellite broadband services to the Far East Russia and Asia-Pacific regions.
The US$147 million financing round closed with a mix of equity, debt and customer prepayments which cover the purchase of the satellite, launch service, ground systems and all other project costs. To secure this funding, Kacific has signed 15 managed bandwidth wholesale agreements in 14 different countries for a total value of US$434 million.
The K&L Gates team on the deal was led by Singapore- and Shanghai-based partner Siew Kam Boon (picture), and included Washington, D.C., partner Jeff M. Cohen, Boston partner Steven P. Wright and Singapore associates Daryl Lim, Mark Tan and Robert Houston.
Law Firms: K&L Gates;
Clients: Kacific Broadband Satellites Pte Ltd;