Telstra completes $697m purchase of Pacnet

17 Apr 2015

As part of the acquisition, Telstra has revealed plans to refinance Pacnet's outstanding debt, by repaying the company's bank debt and redeeming all the company's $350 million high-yield notes.

Telstra first revealed plans to acquire Pacnet in December. Hong Kong and Singapore based Pacnet operates 109 PoPs across 61 cities in APAC, and 8 in the US and Europe. The company also controls two fiber pairs on the Unity trans-Pacific subsea cable network.

Telstra has separately revealed plans to more than double the number of hotspots in operation for its trial nationwide Wi-Fi network in its home market of Australia.

More than 1,500 new hotspots will be added to the 1,100 in operation. The trial forms part of Telstra's A$100 million ($78 million) project to deploy one of the world's largest Wi-Fi networks, consisting mostly of hotspots provided by the operator's broadband customers in exchange for use of the network.


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