Yahsat, UAE’s nationally-owned satellite operator and subsidiary of Mubadala Development Company, has secured commitments of US$1.2 billion in financing to fund the Middle East’s first hybrid satellite communications system.

Yahsat’s CEO Al Zaabi believes the over-subscribed financing facility reinforces the company’s business model. 

The satellite operator announced in May its intention to raise public private partnership-style project financing for its satellites, the first of which, Yahsat 1A, is currently being built and will launch in Q410. Yahsat 1B is expected to follow, launching in the first half of 2011.

“Yahsat received commitments from leading international and regional banks in excess of US$1.6 billion for the US$1.2 billion financing, which is a testament to the strength of our sponsorship acknowledging our business model” Jassem Mohamed Al Zaabi, CEO of Yahsat stated.

The 14-year non-recourse financing is divided into a US$1.014 billion term loan, US$100 million in standby facilities and US$80 million for a debt service reserve letter of credit.

Fourteen banks will participate in the transaction and Yahsat’s chief financial officer Samer Khalife added that the positive funding response was an important endorsement given the challenging global financial environment.

Yahsat has already generated business through recent long-term satellite capacity leases with the UAE Armed Forces and the American company Emerging Markets Communications, operator of one of the largest teleport facilities in the world.

Yahsat’s owner, Mubadala, is a public joint stock company that manages a multibillion dollar portfolio of local, regional and international investments. Its sole shareholder is the government of Abu Dhabi.

Qatar Telecom has said the delay in the disclosure of its half-yearly financial results to end-June will not exceed September 15, 2008. The Qatari telco said the delay is due to extra time required to consolidate the financial results of PT Indosat, which was acquired by Qtel in June 2008.

Qtel is aiming to becoming a top-20 global telecoms firm by 2020

Qtel commented that the delay is necessary and the telco believes the action to be in the best interests of shareholders so that the reported audited consolidated financial statements include the results of PT Indosat. Indosat is Indonesia’s second telecoms operator with a subscriber base that reached 27 million users as of end-March 2008.

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Chinese mobile equipment manufacturers ZTE and Huawei dominated 2008’s second quarter base station contracts, capturing 61 per cent of all contracts and 100 per cent of CDMA contracts, according to a report from California-based EJL Wireless Research.

ZTE captured 31 per cent of total contracts in Q2, a slight drop from 34 per cent the previous quarter, while Huawei followed with 30 per cent this quarter, EJL Wireless Research reported.

Chinese vendors ZTE and Huawei have captured the majority of Q2 basestation contracts.

Total contracts for the period numbered 67, an increase from 47 in Q1. Ericsson and Alcatel-Lucent both captured billion dollar contracts with China Mobile, while the other major vendors Motorola, Nokia Siemens Networks and Nortel Networks – all secured at least one contract.

According to the research, demand remained concentrated in the Asia Pacific and Africa regions during the quarter.

Zain plans to seek a listing on the London Stock Exchange in the first quarter of next year, CEO Saad Al Barrak confirmed this weekend.

Zain is already listed in Kuwait and plans to IPO in London early next year.

Speaking in Kenya at the rebranding of Celtel operations to Zain, Al Barrak said the listing would allow more investors to participate in the operator’s expanding operations.

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India’s telecoms regulator announced details of the country’s upcoming auction for 3G licences but said state-owned telcos Bharat Sanchar Nigam Ltd (BSNL) and Mahangar Telephone Nigam Ltd (MTNL) will be awarded 3G licences immediately.

Indian consumers will be able to access 3G mobile services within the next six months.

The move gives the operators a few months’ head start over private sector competitors, however both will need to pay a licence fee equal to the highest price paid in the auction, which could see up to ten 3G operators licenses in the country. A date for the auction has not been set yet.

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