Hong Kong-based APT Satellite has secured an US$180m in-orbit delivery deal with China’s CGWIC for its next communications spacecraft. The new Apstar-6C will replace Apstar-6 at 134E in H1 2018.
Hong Kong-based APT Satellite has secured an US$180m in-orbit delivery deal with China’s CGWIC for a communications spacecraft to replace Apstar-6 at 134E.
The new Apstar-6C satellite is being fitted with 26 C-band and 19 Ku and Ka-band transponders, and is due to launch on or before 15 March 2018.
Their contract covers the satellite’s manufacture, launch, in-orbit testing and insurance.
State-controlled CGWIC, whose parent China Aerospace Science and Technology Corporation indirectly owns just over half of APT, was picked for its last two satellites: Apstar-9 and Apstar-10.
Apstar-9 was launched over the weekend and marked the first time CGWIC had sold a satellite based on its DFH-4 platform to an established international operator. Few details have been released about Apstar-10 since the two parties entered into a framework agreement in November 2014 for an in-orbit delivery contract.
Apstar-6C will be also based on DFH-4 to offer services including VSAT, DTH and cellular backhaul. The existing Apstar-6 satellite was launched in 2005 and has 38 C-band transponders covering Asia, Oceania, Hawaii and the Pacific islands, as well as 12 Ku-band transponders targeting China.
APT said in a stock filing that the Apstar-6C satellite contract requires independent shareholder approval. It plans to appoint an independent financial adviser for the deal. Investec Capital was hired for similar advice for Apstar-9.
An APT spokesman said it aims to fund the satellite contract through internal resources but will seek a bank loan if necessary. The group has used a 50/50 internal resources to debt split for its satellites in the past, with Bank of China (Hong Kong) usually taking the lead.
The first payment of US$5.4m is payable within seven days of the effective date. Some US$158.4m will be paid during construction, and the remaining US$16.2m is due 30 days after the in-orbit delivery. About US$8m of the contract price is subject to certain performance targets for the satellite.
APT covers about 75% of the world’s population with a total of six satellites currently in orbit: Apstar-9, Apstar-9A, Apstar-7B (also known as Chinasat-12), Apstar-7, Apstar-6 and Apstar-5.
