June 22, 2021
The loan granted will be used to finance the launch service and insurance for the satellite.
With this milestone, HISPASAT completes the financing of the space segment of the Amazonas Nexus mission, that will be launched in 2022.
The transaction is the first EXIM financing of a satellite-related export since 2015 and is a sign of support from the financial market to the Spanish operator and the Amazonas Nexus project.
MADRID, 22 June 2021. The Board of Directors of the Export-Import Bank of the United States (EXIM) unanimously approved, at its meeting on June 21, $80.7 million for HISPASAT, the Spanish satellite telecommunications operator of the Grupo Red Eléctrica. This transaction will finance launch services and also launch and initial in-orbit insurance of Amazonas Nexus, that will be launched in 2022 on a SpaceX rocket.
The transaction is the first EXIM financing of a satellite-related export since 2015 and completes the financing of the space segment of this new mission of HISPASAT Group. Previously, on May 2020, the operator signed €129 million financing agreements with BPI France and a pool of four financial entities to support the manufacture of the satellite.
For Miguel Ángel Panduro, HISPASAT CEO, this transaction is a sign of confidence in the financial strength of the company, supported by the soundness of its balance sheet. "HISPASAT's solid financial situation, with one of the lowest levels of indebtedness in the entire sector, has allowed us to successfully complete this financing operation, thanks to which we will be able to give the best response to the new needs of our clients."
More flexibility in orbit
The Amazonas Nexus is a High Throughput Satellite (HTS) designed with an innovative architecture that combines the Ku and Ka bands to optimize communications and multiply the capacity available for commercial use. The satellite will also feature a latest generation Digital Transparent Processor (DTP), a technological advance that will be able to digitally process the satellite's received signals and increase its flexibility in orbit.
The new satellite, that will replace Amazonas 2 and is being built by Thales Alenia Space, will have coverage over the entire American continent, the North and South Atlantic corridors (both areas with major aerial and maritime traffic) and Greenland. The Amazonas Nexus will be launched on a SpaceX Falcon 9 rocket and will be insured by a pool of international insurers highly specialized on the aerospace market.
HISPASAT has reached several commercial agreements for long-term capacity leasing with operators and service providers in the governmental and airline connectivity segments. These agreements stand for almost 30% of the capacity embarked on Amazonas Nexus.