Tue, Aug 27, 2013
Third Transaction In Support Of A SpaceX Deliverable
Continuing its support of the space industry in America, the Export-Import Bank of the United States (Ex-Im Bank) has authorized a $105.4 million loan to Space Communication Ltd. of Ramat Gan, Israel, to finance the Space Exploration Technologies (SpaceX) launch of the Amos-6 communications satellite, the purchase of American made-solar arrays, and insurance brokered by Marsh USA (Marsh).
The transaction is Ex-Im Bank's third in support of a SpaceX launch, and it will support approximately 600 U.S. jobs, according to bank estimates derived from Departments of Commerce and Labor data and methodology. In June of 2013, Ex-Im Bank announced that it had approved financing for the launches of two satellites manufactured by Space Systems/Loral LLC, and in November of 2012 the Bank announced that it had approved financing for the launches of two Boeing-manufactured satellites.
"Ex-Im Bank is always ready to help the American space industry boost its international sales and export its products to important markets," said Ex-Im Bank Chairman and President Fred P. Hochberg. "Our support of American launches and exports levels the playing field for U.S. companies and keeps highly-skilled, well-paying jobs on American soil."
Satellite financing represents Ex-Im Bank's most prominent stand-out sector in the Bank's newly transformed portfolio. Just three years ago, satellites accounted for only $50 million in authorizations per year. This year numbers as the third consecutive year in which Ex-Im Bank's satellite sector authorizations will have topped $1 billion.
Amos-6, a geosynchronous satellite, will replace Space Communication's Amos-2 and cover markets in Central and Eastern Europe and the Middle East. The satellite will also provide pan-European coverage and broadband services in Europe and Africa.
The launch is scheduled for 2015
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