Ex-Im OKs $80.7M in Backing to SpaceX Launch for Hispasat
The Export-Import Bank's board approved $80.7 million in financing in the form of a loan or loan guarantee to support a SpaceX launch for Hispasat of its Amazonas Nexus satellite, plus initial in-orbit insurance for the satellite operator. Ex-Im said…
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
Monday the deal is the first financing of a satellite-related export since 2015. It said Hispasat was unable to get long-term financing for the transaction from commercial lenders. “This transaction signals the return of EXIM in support of the U.S. satellite-related industry," said Ex-Im Acting Vice Chairman James Cruse. "The need for export credit agency support is well-established in this industry, and the availability of EXIM’s financing enables SpaceX and other U.S. exporters to remain competitive."