[06-07-11] The U.S. Export-Import Bank (U.S. Ex-Im) has unveiled the conditions of its financing agreement with the Azerbaijan government for the production of the country’s first national communications satellite, Azerspace/Africasat-1A, U.S. Ex-Im officials confirmed June 6.
The U.S. Ex-Im Bank endorsed a $116.6 million grant with a 10-year repayment period. The New York-based branch of BNP-Paribas applied for financing. The borrower and the buyer will be Azercosmos OJS Co. with guarantees from the Azerbaijani Ministry of Finance. The Azerbaijan government and the U.S. Ex-Im Bank said they would announce the final details of the arrangement at the end of June or early July.
Orbital Sciences Corp. is currently under contract to build the satellite, with Honeywell International Inc. and Moog Inc. as technology partners.
