Spanish satellite operator Hispasat has secured a €140m (US$154m) loan from Export Development Canada to fund the construction of its Amazonas 5 satellite.
The financing comes just over six months after EDC provided Hispasat with a €123m (US$134m)…
Spanish satellite operator Hispasat has secured a €140m (US$154m) loan from Export Development Canada to fund the construction of its Amazonas 5 satellite.
The financing comes just over six months after EDC provided Hispasat with a €123m (US$134m) loan to fund Hispasat 1F.
Both spacecraft are being built by US-based Space Systems Loral, which is owned by Canada’s MacDonald, Dettwiler and Associates (MDA).
Commenting on the deal, Carl Burlock, SVP financing and investments at EDC, said: “MDA is an industry leader and a leader within Canada’s growing satellite technology sector. EDC’s financial solutions can be an important asset to companies like Hispasat and MDA with unique business needs.
“This contract has helped to solidify the relationship between MDA and Hispasat, which has the potential to ultimately bring more business to other Canadian SMEs in MDA’s supply chain.”
Hispasat contracted SSL to build Amazonas 5 in December 2014 after it cancelled its construction agreement with Orbital Sciences for Amazonas 4B.
Hispasat said at the time that the new satellite both redefines the original Amazonas 4B mission and covers the full capacity of the Amazonas 4A, which suffered an anomaly shortly after its launch back in March 2014.
The spacecraft will be equipped with 35 Ka-band beams and 24 Ku-band transponders covering South America.
The satellite is due to be launched in 2017, though a launch services provider has yet to be selected.
Amazonas 5 will be the fourth satellite that SSL has built for Hispasat. The company ordered Hispasat 1F in July 2014. The satellite, which will be equipped with 48 Ku-, one C- and seven Ka-band transponders, is due to be launched to 30W in 2016.