Appleby acted as Bermuda counsel to the Asia Broadcast Satellite (ABS) group of companies in relation to its approximately US$470 million secured loan financing from the Export-Import Bank of the United States (Ex-Im Bank).

The Appleby team was led by Banking Partner Jeffrey Kirk and Senior Associate Rupen Shah. Milbank, Tweed, Hadley & McCloy in Washington D.C. acted as onshore counsel to ABS.

The loan financing will settle existing financings and also aid the building, launch and operation of several satellites from Space Systems/ Loral Inc. and Boeing Satellite Systems International respectively. The launch and technical support for the Boeing satellites will be provided by Space Exploration Technologies (SpaceX).

For global satellite operator ABS, the facility from Ex-Im Bank will assist in upgrading and expanding its existing fleet of satellites, which at present covers 80% of the world’s population.

Ex-Im Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.

For further information please contact Sarah Stone.

Share
Twitter LinkedIn Email Save as PDF
More Deals
20 Jul 2021 | Deals

Appleby acts as Cayman counsel on Black Spade Acquisition Co's USD150 Million SPAC IPO

Black Spade Acquisition Co is sponsored by Black Spade Sponsor LLC, an affiliate of Black Spade Capi...

6 Jul 2021 | Deals

Appleby’s Hong Kong office acts as Cayman and BVI counsel to Datang Group Holdings Limited on its issuance of USD300 million 12.50% senior notes due 2022

It was second time the Appleby team being instructed by Datang after advising on its HKD1.48 billion...

Contributors: Kaile Yang
24 May 2021 | Deals

Appleby advises Ascendent Capital Partners on the offshore aspects of multiple transactions

Appleby advises Ascendent Capital Partners on the offshore aspects of multiple transactions.

28 Apr 2021 | Deals

Appleby advise Kwong Luen Engineering Holdings Limited on its HKD135 million listing on the Main Board of the Hong Kong Stock Exchange

Appleby advise Kwong Luen Engineering Holdings Limited on its HKD135 million listing on the Main Boa...

Contributors: Minnie Choi