The Export-Import Bank of the United States has authorised a US$343.3m loan to Hong Kong-based satellite operator AsiaSat to fund the construction and launch of its AsiaSat-6 and AsiaSat-8 spacecraft.
AsiaSat-6, a C-band satellite, and AsiaSat-8, a…
The Export-Import Bank of the United States has authorised a US$343.3m loan to Hong Kong-based satellite operator AsiaSat to fund the construction and launch of its AsiaSat-6 and AsiaSat-8 spacecraft.
AsiaSat-6, a C-band satellite, and AsiaSat-8, a Ku/Ka-band satellite, are being built by Space Systems/Loral (SSL) and are expected to be launched by SpaceX in the first half of 2014.
AsiaSat stated that the size of the loan was increased by US$37.3m from US$306m to cover the insurance cost for the two satellites. Marsh is placing the launch-plus-one insurance coverage.
Following this authorisation, Ex-Im Bank and AsiaSat will now proceed to finalise the precise terms of the loan.
“Ex-Im’s satellite financing is its fastest-growing portfolio. In fiscal year 2013 to date, the bank has authorised US$891m in support of US satellites and related services. Ex-Im Bank has financed approximately 60% of US commercial satellite sales in the last three years,” it said.
AsiaSat contracted SSL to build both birds back in November 2011. It then signed a launch services agreement with SpaceX in February 2012 for the two spacecraft using a Falcon 9 rocket.
Both satellites are based on SSL’s 1300 platform, with AsiaSat-6 containing 28 C-band transponders and AsiaSat-8 24 Ku-band transponders as well as Ka-band beam.
The former will be located at 120E providing coverage over Asia, Middle East and Australasia, while the latter will operate from 100.5E, serving regional markets across Asia.
In December 2011, AsiaSat signed a cooperation agreement with Thaicom, which saw the Thai satellite operator purchase half the transponders on AsiaSat-6. The company refers to its half of the satellite as Thaicom-7.
Under the agreement, AsiaSat will pay the entire cost of the satellite – US$171m – and Thaicom will then repay its share of the investment in twice yearly instalments to AsiaSat throughout the 15-year operating life of the satellite.
