Free Newsletters - Space - Defense - Environment - Energy - Solar - Nuclear
..
. 24/7 Space News .




SPACEMART
Ex-Im Approves Loan Guarantee to Finance Export of American-made Satellite to Spain
by Staff Writers
Washington DC (SPX) Jan 22, 2013


Pictured above is the Orbital-built Azerspace/Africasat-1 satellite at the company's Dulles, Va., manufacturing facility. Ex-Im Bank approved an $87.1 million guarantee of a loan extended by Credit Agricole and other European lenders to Hispasat Canarias S.L.U. that will finance the export of the satellite to Spain. (Photo courtesy of Orbital)

The Export-Import Bank of the United States (Ex-Im Bank) has authorized an $87.1 million guarantee of a loan extended by Credit Agricole and other European lenders to Hispasat Canarias S.L.U., a Hispasat S.A. (Hispasat) subsidiary based in Madrid, Spain, that will finance the assembly and purchase of a satellite to be manufactured by Orbital Sciences Corporation (Orbital) of Dulles, Va.

The guarantee, which is Ex-Im Bank's third transaction with Hispasat, will support approximately 600 U.S. jobs, according to bank estimates derived from Departments of Commerce and Labor data and methodology.

"This transaction is yet another example of our commitment to support high-tech jobs throughout America," said Ex-Im Bank Chairman and President Fred P. Hochberg. "The 'Made in America' brand is second to none, and it is our job to ensure it always has an equal footing with competitors in the international market."

Established in 1989, Hispasat is the fourth largest western European satellite operator and the eighth largest operator in the world. It currently manages a constellation of seven active satellites and plans to expand its fleet. Additionally, an Ex-Im Bank transaction involving the company was recognized as "Deal of the Year"at the 2012 Ex-Im Bank Annual Conference.

The Amazonas-4A satellite, a Ku-band satellite equipped with 24 transponders, is expected to launch in 2014 and will occupy the company's orbital slot over Brazil. It will provide coverage to the Americas and respond to the increasing demand of direct-to-home and high-definition television broadcasts.

Orbital Sciences Corporation was founded in 1982 and specializes in designing, building, testing and operating small- and medium-size satellites, rockets and other space systems.

The company provides its space systems products to commercial customers, such as Hispasat, as well as to U.S. government agencies, including NASA, the Department of Defense, and intelligence agencies. Orbital employs almost 4,000 people, primarily in Virginia and Arizona, with other smaller locations around the country.

"Ex-Im Bank has played a critical role in the financing of several high-value commercial satellites built by Orbital," said Garrett Pierce, vice chairman and chief financial officer of Orbital.

"Ex-Im Bank's participation has enabled us to compete on a level playing field around the world and win new export-related business. In addition, our success in capturing new orders of state-of-the-art spacecraft provides hundreds of high-tech and high-wage jobs for Orbital's workforce and throughout our extensive network of U.S.-based suppliers."

Ex-Im Bank authorized a record-breaking $1.4 billion to finance exports of American-made telecommunications satellites in FY 2012. In the first quarter of FY 2013, Ex-Im Bank has already authorized $516.9 million.

.


Related Links
Export-Import Bank of the United States
The latest information about the Commercial Satellite Industry






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





SPACEMART
US urged to relax satellite export restrictions
Beijing (XNA) Jan 10, 2013
The Ministry of Commerce expressed concern after the United States kept a tight rein on the export of satellites and related items to China, and a senior China-US trade expert urged Washington to drop its Cold War mindset and lift the barriers to benefit both countries. The responses came after US President Barack Obama signed on Thursday the National Defense Authorization Act of the 2013 ... read more


SPACEMART
US, Europe team up for moon fly-by

Russia to Launch Lunar Mission in 2015

US, Europe team up for moon fly-by

Mission would drag asteroid to the moon

SPACEMART
US scientists find evidence of ancient Martian lake

Martian Crater May Once Have Held Groundwater-Fed Lake

Choosing the right people to go to Mars

ChemCam follows the 'Yellowknife Road' to Martian wet area

SPACEMART
An Astronaut's Guide

Mathematical breakthrough sets out rules for more effective teleportation

Orion Teamwork Pays Off

Unilever Buys 22 Flights On XCOR Lynx Suborbiter For AXE Campaign

SPACEMART
China to launch 20 spacecrafts in 2013

Mr Xi in Space

China plans manned space launch in 2013: state media

China to launch manned spacecraft

SPACEMART
ISS to get inflatable module

ESA workhorse to power NASA's Orion spacecraft

Competition Hopes To Fine Tune ISS Solar Array Shadowing

Embassy Gathers Elite Group of Space Policy Chiefs

SPACEMART
Amazonas 3 in Kourou for Ariane 5 year-opening launch campaign

Suborbital Space Research and Education Conference Scheduled for June 2013

First Ariane 5 Launch For 2013 Ready With Two Birds

Africasat-1a to launch on first Ariane 5 launch in 2013

SPACEMART
Glitch has space telescope shut down

Earth-size planets common in galaxy

NASA's Hubble Reveals Rogue Planetary Orbit For Fomalhaut B

NASA, ESA Telescopes Find Evidence for Asteroid Belt Around Vega

SPACEMART
Computer breakthrough: Code of life becomes databank

Kim Dotcom apologises for Mega bugs

World's Most Complex 2D Laser Beamsteering Array Demonstrated

Record high radiation level found in fish: TEPCO




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement