First EXIM Satellite-related Deal Since 2015, Counters Foreign Competition
WASHINGTON (EXIM PR) – The Board of Directors of the Export-Import Bank of the United States (EXIM) unanimously approved $80.7 million in EXIM financing to support launch services by SpaceX and also U.S.-brokered launch and initial in-orbit insurance for Hispasat Canarias S.L.U., a subsidiary of Hispasat, S.A., of Spain. These EXIM-supported services will help Hispasat to deploy a new satellite, Amazonas Nexus. The EXIM financing, which may take the form of a direct loan or a loan guarantee, is estimated to support approximately 500 American jobs in California, Florida, Texas, and Virginia.
The transaction is the first EXIM financing of a satellite-related export since 2015, before EXIM was forced to pause board-approved transactions for several years due to the lack of a board quorum. Today’s announcement marks an important step in EXIM’s re-emergence following the agency’s historic seven-year reauthorization by Congress in 2019. EXIM’s support is needed for this transaction to provide long-term financing for Hispasat that was unavailable from commercial lenders. EXIM’s support also counters potential export credit agency support for a French launch-services competitor, Arianespace.(more…)
- Parabolic Arc
- June 22, 2021