Export Development Canada

Export Development Canada

September 12, 2014 00:22 ET

EDC Finances Hispasat EUR 123 M Purchase of MDA Satellite, Looking to Grow Satellite Financing Business

OTTAWA, ONTARIO--(Marketwired - Sept. 12, 2014) - Export Development Canada (EDC), Canada's trade financing agency, today announced financing of EUR 123 M for the Spanish satellite operator Hispasat SA (Hispasat).

The financing will be used for Hispasat's purchase of a satellite provided by Canada's MacDonald, Dettwiler and Associates (MDA) and its subsidiary SSL.

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

"As the Canadian satellite industry has continued to grow, EDC has developed a depth of satellite industry financing expertise and we're looking to grow our satellite financing business," said Carl Burlock, Senior Vice-President, Financing and Investments, EDC.

"For foreign companies and countries that don't know EDC very well, we bring to the table a fairly unique offer," explained Burlock. "EDC's philosophy is to work with you as a financial partner, with an ability to bring flexibility to deal structures suited to the buyer's needs. In addition, EDC's commercial orientation allows us to work seamlessly with your existing financial partners if that is your preferred financing approach."

As a mature global financier, EDC brings stability and reliability of capital to their international customers. With annual business volumes nearing CAD 100 B, EDC has the capital and experience necessary to undertake transactions of any size in support of transactions involving Canadian supply or services.

EDC can personally serve your company from Mexico City, Monterrey, Rio de Janeiro, São Paulo, Santiago, Lima, Bogota, Dusseldorf, Istanbul, Dubai, Shanghai, Beijing, Mumbai, New Delhi, and Singapore.

About EDC

EDC is Canada's trade finance agency, providing financial services for companies that buy from Canadian companies, directly or through their corporate value chains. EDC's financing can be used for capex and/or project finance requirements, either through bilateral or syndicated corporate facilities. Operating on commercial principles, EDC has a partnership-preferred philosophy to collaborate with private-sector financial institutions to share risk and create greater capacity for Canadian trade transactions. EDC is committed to Corporate Social Responsibility, and it takes into account the environmental and social impacts of its transactions.

For more information about how EDC can help your company, visit www.edc.ca.

Contact Information

  • Spokesperson
    Phil Taylor
    Export Development Canada
    (613) 598-2904