Transaction supporting 262 American Jobs
WASHINGTON, April 11, 2012 /PRNewswire-USNewswire/ -- Hispasat Canarias, S.L.U. of Spain, a well-known European satellite operator and leader in the distribution of content to Spanish and Portuguese-speaking markets, will receive the 2012 Deal of the Year award from the Export-Import Bank of the United States (Ex-Im Bank). The award will be presented at the Bank's 37th Annual Conference, "Ex-Im –Your Competitive Edge," on April 12 in Washington, D.C.
In 2011, Ex-Im Bank authorized a $228 million loan guarantee for Hispasat Canarias, S.L.U. to purchase a Ku band satellite (with Ka band option) that is used for television broadcasting in Latin America. The satellite, known as Amazonas 3, will be launched by Ariane in late 2012. The U.S. manufacturer and exporter, Space Systems Loral, is in Palo Alto, Calif.In 2010, Ex-Im Bank approved satellite financing for Hispasat S.A. The request was to finance a satellite also built by Space Systems Loral that will be paired with a Coface-supported launch on an Ariane rocket. For that transaction, Ex-Im Bank authorized a $160.5 million loan guarantee for the purchase of a Ku band satellite that is used for television broadcasting in Europe, Latin America and North Africa. The satellite, known as 1E, was launched successfully in December 2010. "These satellite deals are already supporting more than 260 full-time American jobs," said Fred P. Hochberg, the chairman and president of Ex-Im Bank. "Hispasat Canarias is a truly innovative company, and I am pleased they are receiving our Deal of the Year award." This deal paves the way for future Ex-Im Bank support for Hispasat's U.S. satellite purchases and, quite possibly, for Ex-Im support for launches from newly emerging U.S. launch providers.