emirates7 - Space42 has announced securing a US$695.5 million financing facility, supported by Export Credit Agencies (ECA), to fund the development of its next-generation geostationary satellites, Al Yah 4 and Al Yah 5.
This financing marks a significant milestone in Space42’s plan to build essential connectivity capabilities across various orbits.
Arranged by Crédit Agricole CIB, Santander CIB, Societe Generale, and Natixis, and backed by Bpifrance Assurance Export, the facility highlights Space42’s strong appeal to top international banks. It will finance the satellites planned for launch in 2027 and 2028.
The deal offers Space42 affordable, long-term funding aligned with the satellite development schedule, while also boosting the company’s liquidity to support future expansion efforts.
Andrew Cole, Space42’s Chief Financial Officer, stated that the Al Yah 4 and Al Yah 5 program is supported by a 17-year, $5.1 billion government contract starting in 2026. The program advances their ambition to be the leading provider of secure connectivity by delivering multi-path critical communication solutions. This strategy aims to enhance secure communications for defense and civilian sectors via multi-orbit satellite networks, ensuring continuous connectivity for mission-critical operations. The ECA-backed financing optimizes funding costs and increases financial flexibility to pursue growth plans.
Al Yah 4 and Al Yah 5 are equipped with software-defined architectures and fully flexible payloads that can be adjusted in orbit. This innovation allows real-time optimization of coverage, bandwidth, and frequency allocation to adapt to changing operational needs across the Middle East, Africa, Europe, and Asia.
These new satellites will complement and eventually replace Al Yah 1 and Al Yah 2, which were launched in 2011 and 2012 respectively.
This financing marks a significant milestone in Space42’s plan to build essential connectivity capabilities across various orbits.
Arranged by Crédit Agricole CIB, Santander CIB, Societe Generale, and Natixis, and backed by Bpifrance Assurance Export, the facility highlights Space42’s strong appeal to top international banks. It will finance the satellites planned for launch in 2027 and 2028.
The deal offers Space42 affordable, long-term funding aligned with the satellite development schedule, while also boosting the company’s liquidity to support future expansion efforts.
Andrew Cole, Space42’s Chief Financial Officer, stated that the Al Yah 4 and Al Yah 5 program is supported by a 17-year, $5.1 billion government contract starting in 2026. The program advances their ambition to be the leading provider of secure connectivity by delivering multi-path critical communication solutions. This strategy aims to enhance secure communications for defense and civilian sectors via multi-orbit satellite networks, ensuring continuous connectivity for mission-critical operations. The ECA-backed financing optimizes funding costs and increases financial flexibility to pursue growth plans.
Al Yah 4 and Al Yah 5 are equipped with software-defined architectures and fully flexible payloads that can be adjusted in orbit. This innovation allows real-time optimization of coverage, bandwidth, and frequency allocation to adapt to changing operational needs across the Middle East, Africa, Europe, and Asia.
These new satellites will complement and eventually replace Al Yah 1 and Al Yah 2, which were launched in 2011 and 2012 respectively.