Israel’s Space Communications (SpaceCom) which operates the Amos fleet of satellites over the Middle East and Eastern Europe, has secured a $105.5 million loan from the Export-Import Bank of the US.

The cash will be used to fund the launch of SpaceCom’s Amos-6 craft, being built largely by Israel Aerospace Industries (IAI). IAI’s portion of the build is already being financed by a loan from the same bank.

This fresh borrowing will finance the supply of American built solar arrays, as well as craft’s launch aboard a SpaceX Falcon-9 rocket, as well as insurance cover for the launch and associated risks in a deal brokered by insurance giant Marsh USA.

Amos-6 will replace Amos-2, and add extra transponders to SpaceCom’s coverage of Central & Eastern Europe and the Middle East.

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Categories: Articles, Business, DTH/Satellite, Funding