- Press Release
- Oct 31, 2023
EDC Provides EUR 140 M Financing to Spanish Satellite Company Hispasat for Amazonas 5
Export Development Canada (EDC) today announced financing of EUR 140 M to the HISPASAT Group (Hispasat), a Spanish satellite telecommunications operator, for the construction of Amazonas 5 by Canada’s MacDonald, Dettwiler and Associates Ltd (MDA).
The Amazonas 5 satellite will be built by SSL, a subsidiary of MDA. This new multi-mission satellite will respond to growing demand for satellite capacity, primarily for TV platforms, in Latin America. This will be the fourth satellite SSL constructs for Hispasat Group.
“MDA is an industry leader and a leader within Canada’s growing satellite technology sector,” said Carl Burlock, Senior Vice-President, Financing and Investments, EDC. “EDC’s financial solutions can be an important asset to companies like Hispasat and MDA with unique business needs.”
EDC has the capacity as a global financier to support projects of any size. This is the second time EDC has provided financing to Hispasat, with the first loan provided in August 2014.
“When MDA earns new business, it helps to grow their supply chain of Canadian small and medium companies,” says Burlock. “This is a great opportunity for any Canadian company in the satellite industry, and EDC is here to help all of them.”
A key piece of Canada’s high-tech sector, MDA employs more than 4,800 people around the world and has Canadian offices in Richmond, Brampton, Ottawa, Montreal, and Dartmouth. This contract has helped to solidify the relationship between MDA and Hispasat, which has the potential to ultimately bring more business to other Canadian SMEs in MDA’s supply chain.
EDC is Canada’s leading provider of financing, insurance and bonding products for Canadian companies that have business outside of Canada. EDC also provides financial services for foreign companies that buy from Canadian companies, or those that have Canadian supply and services in their corporate value chains.
For more information about how EDC can help your business contact us at 1-888-434-8508 or visit www.edc.ca.
MDA is a global communications and information company providing operational solutions to commercial and government organizations worldwide. MDA’s business is focused on markets and customers with strong repeat business potential, primarily in the communications sector and the surveillance and intelligence sector. In addition, the company conducts a significant amount of advanced technology development.
MDA’s established global customer base is served by more than 4,800 employees operating from 11 locations in the United States, Canada, and internationally.
The company’s common shares trade on the Toronto Stock Exchange under the symbol “MDA.”
About HISPASAT Group
HISPASAT Group is composed of companies with a foothold in Spain as well as in America, where its Brazilian affiliate HISPAMAR is located, and North of Africa. The Group is a world leader in the distribution and broadcasting of Spanish and Portuguese content, and its satellite fleet is used by important direct-to-home television (DTH) and high-definition television (HDTV) digital platforms. HISPASAT is one of the world’s largest companies in terms of revenue in its sector, and the main communications bridge between Europe and the Americas.