Iñaki Ferreras ©RapidTVNews | 08-09-2011


Spanish satellite company Hispasat has just closed a €165 million loan from J.P. Morgan in order to finance its next satellite Amazonas 3.

The new Hispasat satellite will be placed on the 61º West orbital position and is set for launch in 2013. With a total of 13 transponders, the device will replace the Amazonas 1 satellite. Apart from working on the Ku and C bands the Amazonas 3 will also work on the Ka band with 9 spots. In fact the satellite will be the first to deliver Ka band services in Latin America.

This will allow it to offer advanced broadband services meeting with a growing demand of the internet access. Hispasat hopes that with its new satellite it will be able to strengthen its leadership in Brazil and the rest of the Latin American territory and it will also reinforce its position in the USA.
The US bank will guarantee the plans with the loan to be paid back over ten years. Commented Petra Mateos, Hispasat's president: "the solid and favourable financing position of our company, with a net/EBITDA debt ratio of 1:29 times by last June has allowed us to reach successfully this new operation which will open new ways of growth for the group in its reference markets".