Hispasat gains €165m for Amazonas 3
10.49 Europe/London, August 2, 2011 By Julian Clover

Spanish satellite operator Hispasat has received a €165 million cash injection ahead of the construction of its new bird Amazonas 3. The JP Morgan and Exim Bank loan will be repaid over a ten-year period.

“The strong and favorable financial situation for Hispasat, with the ratio of net debt to EBITDA to June 2011 of 1.29 times, has allowed the company to successfully complete this new financing transaction opening up new avenues of growth for the Group in its reference markets,” said Hispasat president Petra Mateos.

Amazonas 3, to be located at 61 degrees West is scheduled to launch in 2013, replacing Amazonas 1. It will have 33 Ku-band transponders and 19 at C-band. 9 Ka-band spot beams are also included, providing the first Ka-band coverage over Latin America.

Coverage is over Brazil, Latin America and the United States.