EDC provides $191M for MDA satellite deal

Financing for construction of multi-mission Amazonas 5.

OTTAWA — Export Development Canada (EDC) is providing $191.2 million (140 million euro) in financing to the HISPASAT Group (Hispasat), a Spanish satellite telecommunications operator, for the construction of Amazonas 5 by MacDonald, Dettwiler and Associates Ltd. (MDA).

The multi-mission satellite, to be built by SSL, a subsidiary of MDA, a global communications and information company based in Richmond, BC, 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.

EDC is a Crown agency that provides financing, insurance and bonding products for Canadian companies that have business outside of Canada.

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