Loan for Satellite Communications Project Participated in by Japanese Company
Supporting Overseas Business Deployment of Japanese Satellite Communications Industry
- Region: Asia
- Machinery and Equipment
- Overseas Investment Loans
The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed today a loan agreement totaling up to approximately USD63.75 million (JBIC portion) with JSAT International Inc. (JII), a U.S. subsidiary wholly owned by SKY Perfect JSAT Corporation (SKY Perfect JSAT). The loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd., Sumitomo Mitsui Banking Corporation, and Mizuho Bank, Ltd., bringing the total cofinancing amount to USD255 million.
The loan is intended to provide financing for the Asia-Pacific satellite communications project (Horizons 3e) which JII is jointly implementing with Intelsat S.A., a Luxembourg company operating a global satellite communications business.
SKY Perfect JSAT, the sole satellite communications operator in Japan, as well as the largest in Asia, provides satellite communications services not only in Japan but across Asia and the rest of the world. The company has declared its aim to expand its overseas satellite communications business in its medium-term business plan, targeting promoting satellite communications services in regions with underdeveloped terrestrial communications infrastructure, such as Southeast Asia, as well as mobile communications services specifically for vehicles such as ships and aircraft. Through the support of such overseas business deployment of SKY Perfect JSAT, this financing will contribute to maintaining and strengthening the international competitiveness of Japanese industries.
As Japan's policy-based financial institution, JBIC will continue to financially support the overseas business deployment of Japanese companies, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.