Ex-Im Approves $343 Million Loan to Support U.S. Satellite Exports
The Export-Import Bank approved a $343.3 million direct loan to Hong Kong-based Asia Satellite Telecommunications to finance the purchase of two communications satellites from a California company, the Bank announced June 3. The satellites are being manufactured by Space Systems/Loral LLC, located in Palo Alto. The loan will also support launch services, supplied by Space Exploration Technologies in Hawthorne, California, and launch insurance from New York-based Marsh USA Inc.
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Ex-Im’s satellite financing is its fastest-growing portfolio; the Bank has authorized $891 million in support of U.S. satellites and related services in this fiscal year alone, the Bank said. About 60 percent of all U.S. commercial satellite sales, over the last three years, have been financed through Ex-Im.