Natixis CIB supports MEASAT for the construction and launch of its MEASAT-3d Satellite

Clients success

MEASAT Communication Systems Sdn Bhd (MCS), a wholly owned subsidiary of MEASAT Global Berhad (MEASAT), appointed Natixis to act as Bridge Provider, ECA Coordinator, ECA Structuring Bank, Mandated Lead Arranger (MLA), ECAs Agent and Hedging Bank for the provision of a USD 180 million project financing to fund the construction and launch of the MEASAT-3d satellite (M3d). Along with Natixis CIB, ING and SMBC acted as MLAs on the transaction.

M3d will be built by Airbus Defence and Space and launched by Arianespace. It aims to maintain business continuity of MEASAT group, by progressively replacing several existing satellites which are reaching their end-of-life, and to enhance and expand MEASAT’s High Throughput Satellite (HTS) capacity in Malaysia.

M3d will be positioned at the 91.5°E geosynchronous (GEO) orbital slot and carry payloads primarily comprising 12 Ku-band and 18 C-band transponders as well as 30 Gbps HTS capacity. At this orbital slot, M3d will be well-suited for the distribution of TV channels in C-Band in Asia.  By offering large volume of bandwidth (HTS/Ka-Band) to Malaysia with a full national coverage, M3d will address the growing demand from consumers and enterprises for high-speed broadband services in the country, particularly in the remote locations with no or limited access to terrestrial networks.

The total project cost will be funded via a combination of long term, non-recourse Export Credit Agency (ECA) covered facilities and equity. The USD 180 million debt package comprises a facility covered at 95% by Bpifrance Assurance Export, the French ECA associated to a reinsurance scheme from the UK ECA (UK Export Finance), and a facility covered at 95% by Euler Hermes, the German ECA. Since the very beginning of the project, Natixis took a leading role as ECA Structuring Bank and ECA Coordinator to arrange, structure the deal for the ECAs and coordinate the overall ECA process.

Natixis CIB continues to support the MEASAT group in this new satellite program and its key and domestic partners, Airbus Defence and Space and Arianespace. In 2014, Natixis acted as MLA/Joint Financial Advisers for the project financing of M3b, MEASAT’s third satellite at the 91.5°E orbital slot, with Natixis also acting as Bpifrance Assurance Export Agent.

Founded in 1992, MEASAT is one of the region’s leading satellite operator supporting Direct-to-Home (DTH), broadcasters and telecommunications companies across Asia, Africa, Europe and Australia.. MEASAT is also one of the pioneers in the use of high-powered Ku-band transponders to support DTH operators in high rainfall regions, particularly important in tropical regions like South and South East Asia. The group supports Astro DTH services in Malaysia providing DTH multi-channel television services to 5.7 million homes or 74% of Malaysian TV households as well as DTH operators in India and Indonesia.


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