Israel’s Amos-6 satellite is now fully financed, says operator Spacecom. The company has borrowed $293 million from a consortium of banks to finance the build, launch, insurance and financing for the new satellite. Amos-6 will launch in 2015 to the 4 degrees West slot.

The consortium is led by Export Development Canada (EDC) which will loan up to $140 million; Export-Import Bank of the United States (Ex-Im) which will loan up to $106 million and Israel Aerospace Industries (IAI) with a loan up to $47 million. IAI is responsible for manufacturing and preparing for launch of the satellite whose launch date is scheduled for 2015 to the Amos-4°W ‘hot spot,’ current home to the Amos-2 and Amos-3.

The loan will be paid back over 8.5 years with 34 quarterly payments, with Spacecom keeping the option of early repayment at agreed upon terms. Amos-6 will be larger and more powerful than Amos-2 and Amos-3 combined. With a 16-year scheduled life span, the satellite will expand territories under current service by adding Western Europe and multi-beam coverage over parts of Africa to existing Central and Eastern Europe and Middle East coverage.

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