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U.S. EXIM bank returns to space with SpaceX and Hispasat funding

Paris, 22 June 2021. – The U.S. Export-Import Bank (EXIM) finances SpaceX and Hispasat with more than $80 million, the bank announced.

The bank’s board unanimously approved $80.7 million in EXIM financing to support launch services by SpaceX and U.S.-brokered launch and initial in-orbit insurances for Hispasat Canarias, a subsidiary of Hispasat, Spain, the bank said.

The financing will help Hispasat to deploy a new satellite, Amazonas Nexus. It “may take the form of a direct loan or a loan guarantee” and is estimated to support approximately 500 American jobs in California, Florida, Texas, and Virginia, EXIM said.

The transaction is the first EXIM financing of a satellite-related export since 2015, when it was forced to pause for several years, “due to the lack of a board quorum”, the bank said.

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