Deutsche Bank, StanChart close $184m loan for satellite developments

The loan finances the THAICOM 10 Satellite Project.

Deutsche Bank has closed a $184m export credit facility for Space Tech Innovation (STI), a subsidiary of satellite operator and space technology company Thaicom.

Deutsche Bank and Standard Chartered will provide STI with a 14-year loan for the development of the THAIMCOM 10 Satellite Project.

The loan also finances STI’s commercial contract with France’s Airbus Defence & Space to manufacture another satellite, the Software Defined High Throughput Satellite (SD-HTS). This satellite will support broadband internet in remote areas, maritime connectivity, distance learning, telemedicine, and security in Thailand, according to a press release by Deutsche Bank.

The French Export Credit Agency (ECA), Bpifrance Assurance Export guaranteed the loan.