Iñaki Ferreras ©RapidTVNews | 02-08-2011

Spain's satellite operator Hispasat has secured a €165 million loan with JP Morgan Chase Bank and Export-Import Bank (Exim-Bank) to finance the building of the Amazonas 3 satellite.

The period of debt amortization will be ten years. Through this agreement, the company has received more favourable terms than it would have with traditional financing.

Petra Mateos, Hispasat's president, commented: “The solid and favourable financial situation of Hispasat, with an EBITDA of 1.29 times at the end of June 2011, has allowed us to successfully culminate this new financial agreement that will open new routes of growth for Hispasat."

The new satellite will be placed in the orbital position of 61º West and the launch will take place in 2013. The Amazonas 3 will replace the Amazonas 1. With 52 transponders, 33 of which are in band Ku and 19 in C band, it also has spot counts on 9 beams in the Ka band. In fact, the Amazonas 3 will be the first satellite to deliver Ka band in Latin America. This will allow it to offer advanced broadband services for the growing demand for internet access solutions and also the deployment of universalisation initiatives in remote places.
Finally, by means of its new satellite Hispasat will maintain its leading position in Brazil and the whole of Latin America and will also strengthen its position in the US. Hispasat is currently 10th among the world's leading satellite operators.