The US Import-Export Bank is currently considering providing a US$306m direct term loan to AsiaSat to fund the construction and launch of its Asiasat-6 and Asiasat-8 satellites.
The export credit agency published a notice with the US Federal Register on…
The US Import-Export Bank is currently considering providing a US$306m direct term loan to AsiaSat to fund the construction and launch of its Asiasat-6 and Asiasat-8 satellites.
The export credit agency published a notice with the US Federal Register on 28 February stating that Ex-Im Bank has received ‘an application for final commitment for a long-term loan or financial guarantee in excess of US$100m.’
It then describes the application in more detail as a “direct loan to a Hong-Kong based company to support the procurement of two US manufactured satellites as well as US launch services and launch insurance.
A comment period has now been established with the deadline set at 25 March.
AsiaSat stated in a Hong Kong stock exchange regulatory annoucement that it understands that Ex-Im Bank will hold a board meeting in early March to consider the loan application.
AsiaSat contracted Space Systems Loral to build both AsiaSat-6 and -8 back in November 2011. It then signed a launch services agreement with SpaceX in February 2012 to launch the two spacecraft using a Falcon 9 rocket in the first half of 2014.
Both satellites are based on SS/L’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 for approximately US$171m. The company subsequently refers to its half of the satellite as Thaicom-7.
Under the agreement, AsiaSat will pay the entire cost of the satellite and Thaicom will then repay its share of the investment in twice yearly instalments to AsiaSat throughout the approximate 15-year operating life of the satellite.
