Satellite News

The United States’ Export-Import Bank has authorised an US$87.1 million guarantee of a loan extended by Credit Agricole and other European lenders to Hispasat Canarias S.L.U., a Hispasat S.A. subsidiary based in Madrid, Spain, that will finance the assembly and purchase of a satellite to be manufactured by Orbital Sciences Corporation.

An ongoing reform of Russia’s space industry should double its output by 2020, according to a new state programme published last week.

Aon Benfield said it was advising the insurance industry to consider the potential ramifications of a severe space weather event, especially as solar and geomagnetic activity is predicted to peak in the coming 12 months. In response, Aon Benfield Analytics has launched a new report entitled ‘Geomagnetic Storms’ to review the potential threat and risk management implications.

Globecomm Systems Inc. has retained Needham & Company to act as its financial advisor to review potential strategic alternatives to enhance shareholder value.

Orbcomm Inc. has completed a debt financing in the form of a five-year term loan through a Senior Secured Note Agreement in the principal amount of US$45 million with AIG Asset Management (U.S.), LLC.

GeoEye, Inc. announced that it received an order from the Government of India for stereo imagery from the high resolution GeoEye-1 satellite to support development of India’s freight railway corridor.

Globalstar, Inc. announced that it has obtained a committed issuer managed equity financing facility under which it may from time to time sell up to US$30.0 million of its voting common stock to Terrapin Opportunity, L.P.

Russian Prime Minister Dmitry Medvedev approved a plan to spend RUB2.1 trillion (US$69 billion) on developing Russia’s space industry from 2013 to 2020, Novosti news agency reported.