As a result of the deal, Hong Kong satellite operator Asia Broadcast Satellite (ABS) will deploy satellites to upgrade and expand its fleet to provide coverage to 80 percent of the world’s population and targets in developing markets in Africa, Asia, the Middle East, and Russia.

   Ex-Im Bank Chairman and President Fred Hochberg said the deal’s job growth forecast is supported by estimates derived from the U.S. Departments of Commerce and Labor data and related methodology.

   “We are excited to play such a key role in two dynamic transactions that will support several thousand high-paying U.S. jobs in the satellite and aeronautics industries,” Hochberg said. “These products reveal the technological ingenuity and innovation of American companies and will benefit millions of people the world over as we orient ourselves more and more to the future.”

   As part of the first transaction of the deal the Ex-Im Bank authorized a $171.29 million direct loan to ABS to finance the purchase of the ABS-2 C-, Ka- and Ku-band geostationary satellite from Space Systems/Loral (SS/L) based on its FS1300 platform. The loan also allows ABS to obtain insurance covering the satellite from Aon.

   ABS-2 is currently scheduled to launch in 2013.

   “Export-Import Bank financing helps make U.S. manufacturers more competitive and keeps our space industry strong,” said SS/L President John Celli. “Our work on the satellite for ABS keeps hundreds of engineers, technicians and managers employed here in Palo Alto and many hundreds more at suppliers across the United States.”

   In the second transaction, the Ex-Im Bank authorized a $289.71 million direct loan to ABS to facilitate the purchase of two 702SP C- and Ku-band geostationary satellites from Boeing Satellite Systems, insurance from Aon, technical support, and the launch of both of the satellites with U.S. commercial launch services provider SpaceX on its Falcon 9 rocket. The transaction will finance the first two of Boeing’s all-electric-propulsion commercial satellites and the first Ex-Im Bank-backed SpaceX launch. The two satellites are currently scheduled to launch in 2015 from Cape Canaveral, Fla.

   “The Ex-Im Bank’s support of this important satellite operator, one of two launch customers, finds it again at the forefront of helping fulfill a global opportunity with an advanced-technology, American-made product,” Boeing Satellite Systems International CEO Craig Cooning said in a statement. “Our all-electric propulsion means lighter launch weight, which translates into more payload capability at a lower cost in orbit. It ultimately means we can offer customers more and capture sales that will support hundreds of high-tech American jobs.”

   SpaceX President Gwynne Shotwell added that the Ex-Im Bank’s financing of the ABS mission on a Falcon 9 launch vehicle marks the first SpaceX international launch deal to receive Ex-Im backing. “SpaceX is rapidly winning back market share in a commercial field once dominated by the U.S. The support of Ex-Im is great for our customers, our jobs, and our country,” said Shotwell.

   In a Nov. 19 statement, ABS CEO Tom Choi said the operator was absolutely delighted with the support of Ex-Im Bank to provide financing for its upcoming satellite and launch platforms. 

   “With the ABS-2 satellite, SS/L will provide us with one of the largest satellites ever to be launched over Asia,” said Choi. “Separately, the combination of Boeing 702SP satellites and the Space Falcon-9 launch vehicles will revolutionize the Fixed Satellite industry with the most cost effective delivery of satellites into orbit. With these satellites, ABS will extend the reach of affordable and reliable communications and broadcast services to the emerging markets of the world. We are proud to be partnered with such innovative companies and we are extremely thankful for Ex-Im’s financing support.”

   ABS secured HSBC Hong Kong and New York Project & Export Finance teams as lead financial advisors throughout the Ex-Im Bank application and due diligence processes.