OTTAWA, Canada, March 26, 2015 /PRNewswire/ --
Export Development Canada (EDC) today announced financing of EUR 140 M to the HISPASAT Group (Hispasat), a Spanish satellite telecommunications operator, for the construction of Amazonas 5 by SSL.
The Amazonas 5 satellite will be the fourth satellite SSL, a subsidiary of Canada's MacDonald, Dettwiler and Associates Ltd (MDA), constructs for Hispasat. This new multi-mission satellite will respond to growing demand for satellite capacity, primarily for TV platforms, in Latin America.
EDC provides financial services for foreign companies that buy from Canadian companies, or those that have Canadian supply and services in their corporate value chains.
"The satellite industry is growing worldwide, and EDC has the experience and capacity as a global financier to enable companies to take on large scale projects like Amazonas 5," says Carl Burlock, Senior Vice-President Financing and Investments, EDC.
This is the second time EDC has provided financing to Hispasat, with the first loan provided in August 2014.
"Because we have participated in a number of larger financing deals within the global satellite industry, we understand the complexities involved," added Burlock.
EDC provides financial solutions to companies doing business with Canadian companies, or those contemplating working with Canadian companies. Corporates like Hispasat looking to purchase goods from Canadian suppliers can benefit from financial solutions on a bilateral basis or as part of a larger syndicated facility.
EDC can personally serve your company from Mexico City, Monterrey, Rio de Janeiro, São Paulo, Santiago, Lima, Bogota, Dusseldorf, Istanbul, Dubai, Shanghai, Beijing, Mumbai, New Delhi, and Singapore.
For more information about how EDC can help your business visit http://www.edc.ca
MDA is a global communications and information company providing operational solutions to commercial and government organizations worldwide. MDA's business is focused on markets and customers with strong repeat business potential, primarily in the communications sector and the surveillance and intelligence sector. In addition, the company conducts a significant amount of advanced technology development.
MDA's established global customer base is served by more than 4,800 employees operating from 11 locations in the United States, Canada, and internationally.
The company's common shares trade on the Toronto Stock Exchange under the symbol "MDA."
About HISPASAT Group
HISPASAT Group is composed of companies with a foothold in Spain as well as in America, where its Brazilian affiliate HISPAMAR is located, and North of Africa. The Group is a world leader in the distribution and broadcasting of Spanish and Portuguese content, and its satellite fleet is used by important direct-to-home television (DTH) and high-definition television (HDTV) digital platforms. HISPASAT is one of the world's largest companies in terms of revenue in its sector, and the main communications bridge between Europe and the Americas.
EDC is Canada's trade finance agency, providing financial services for companies that buy from Canadian companies, directly or through their corporate value chains. EDC's financing can be used for capex and/or project finance requirements, either through bilateral or syndicated corporate facilities. Operating on commercial principles, EDC has a partnership-preferred philosophy to collaborate with private-sector financial institutions to share risk and create greater capacity for Canadian trade transactions. EDC is committed to Corporate Social Responsibility, and it takes into account the environmental and social impacts of its transactions.
For more information about how EDC can help your company contact us at +1-888-434-8508 or visit http://www.edc.ca
SOURCE Export Development Canada (EDC)