Space technology firm Thaicom has secured a US$184mn loan package from two commercial banks backed by France’s export credit agency for a satellite project in Thailand.
Under the terms of the deal, Deutsche Bank and Standard Chartered are providing a 14-year loan which is guaranteed by Bpifrance Assurance Export.
Thaicom subsidiary Space Tech Innovation (STI) will use the financing for a commercial contract with French manufacturer Airbus Defence and Space, which is producing the company’s Thaicom 10 satellite.
STI plans to launch the satellite from Florida on a SpaceX rocket in 2027, before deploying it for various uses.
“The satellite will support broadband internet in remote areas, maritime connectivity, distance learning, telemedicine and security in Thailand,” says Deutsche Bank in a September 2 statement.
Pimolpa Simaroj, chief country officer of Deutsche Bank Thailand, says the deal is the bank’s first ECA-backed transaction in the Thai market.
“We are delighted to have completed our first ECA financing in Thailand, and support Thaicom’s groundbreaking satellite project, which will become a major milestone in the space technology sector,” she says.
“We hope to pave the way for future transactions that help our homegrown companies advance their local and global growth ambitions.”
Patompob Suwansiri, Thaicom chief executive, says: “This strategic partnership with Deutsche Bank highlights Thaicom’s strong expertise and long-standing presence in the satellite and space technology industry.”
The deal marks a “significant step forward in our long-term growth strategy”, Suwansiri adds.
Established in 1991, Thaicom has two active satellites and offers data, telecommunications and video services over Asia, Africa and Oceania.
