Azerbaijani state satellite operator Azerkosmos has tapped a second export credit agency to help fund the country’s first communications satellite, AzerSat-1.
French export credit agency Coface is to guarantee 95% of a US$98m loan that will be used to…
Azerbaijani state satellite operator Azerkosmos has tapped a second export credit agency to help fund the country’s first communications satellite, AzerSat-1.
French export credit agency Coface is to guarantee 95% of a US$98m loan that will be used to fund the launch of AzerSat-1 by Arianespace. The satellite is scheduled to be launched in late 2012.
SatelliteFinance understands that Societe Generale and Sumitomo Mitsui Banking Corporation were MLAs on the loan, which was completed on 7 October. Societe Generale was also facilities agent on the deal.
The transaction comes five months after Azerkosmos secured a guarantee from the US Export-Import Bank for a US$116.6m loan to help fund the construction of the satellite by US manufacturer Orbital Sciences.
That loan was provided by BNP Paribas, has a ten-year maturity and is being guaranteed by Azerbaijan Ministry of Finance.
AzerSat-1 is to be based on Orbital’s STAR-2 platform, containing 36 Ku- and C-band transponders.
