Apr 11, 2012, 05:27 ET
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.
Ex-Im Bank's 2012 Annual Conference will feature prominent members of the business and government community, including President Bill Clinton, founder, William J. Clinton Foundation and 42nd President of the United States; Valerie Jarrett, senior advisor to President Obama; Commerce Secretary John Bryson; Mayor of Chicago Rahm Emanuel; Jeffrey Sachs, director of the Earth Institute at Columbia University; Governor Jon Huntsman, former ambassador to China; David Rubenstein, co-founder and managing director of The Carlyle Group; Andrew Liveris, chief executive officer, Dow Chemical; and David Rhodes, president, CBS News.
A full listing of speakers, panelists and moderators is available on Ex-Im's website.
About Ex-Im Bank:
Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years, Ex-Im Bank has earned for U.S. taxpayers $1.9 billion above the cost of its operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.
Ex-Im Bank approved $32.7 billion in total authorizations in FY 2011 -- an all-time Ex-Im record. This total includes more than $6 billion directly supporting small-business export sales -- also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $41 billion in U.S. export sales and approximately 290,000 American jobs in communities across the country. For more information, visit www.exim.gov.
SOURCE Export-Import Bank of the United States
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