PLANT

EDC finances $176M of MDA Spanish satellite sale

Export financing agency is looking to grow satellite business.


MDA makes satellites such as the RADARSAT-2 for global markets. Photo: MDA

MDA makes satellites such as the RADARSAT-2 for global markets.
Photo: MDA

OTTAWA — Export Development Canada (EDC) is providing almost $176 million in financing for Spanish satellite operator Hispasat SA to purchase a satellite from MacDonald, Dettwiler and Associates (MDA) and its subsidiary SSL.

EDC, which provides export financing, said MDA’s recent acquisition of SSL has led it to become one of the world’s leading suppliers of turnkey satellite solutions. As a result, it will be “actively seeking opportunities” to provide financing for private and national satellite purchases from MDA.

MDA, maker of the Canada arm, is a global communications and surveillance company with offices across Canada.

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