Spanish communication satellites provider Hispasat has been granted an $87.1 million guarantee of a loan by the Export-Import Bank of the United States, extended by Crédit Agricole and other European lenders. This new development is said to aid Hispasat finance the assembly and purchase of a satellite that will be built by Orbital Sciences Corporation.
The Department of Commerce and Labor reported that this guarantee will help support almost 600 U.S jobs, and also marks the third business transaction between Export-Import Bank and Hispasat. A previous transaction between the two major companies was acknowledged as “Deal of the Year” during the 2012 Ex-Im Bank Annual Conference.
This is not the first time Export-Import Bank financed a satellite company. It also supported other commercial satellites manufactured by Orbital Sciences Corporation. This move is to improve the participation of the U.S in the international market, thus supporting jobs in Orbital’s workforce and its U.S suppliers.
A year ago, Export-Import Bank broke the company’s record by granting $1.4 billion to finance the exporting of U.S-made telecommunications satellites. For the first quarter of this year, it has already authorized $516.9 million.
You may also be interested to read:
No comments:
Post a Comment