The international law firm Milbank, Tweed, Hadley & McCloy LLP advised Space-Communication Ltd. (“Spacecom”) of Israel, a satellite data communications company, on its $293 million in financings for the AMOS-6 satellite, consisting of $106 million from Export-Import Bank of the United States, $140 million from Export Development Canada and $47 million from Israel Aerospace Industries Limited (IAI) for the satellite’s manufacture, launch, insurance and financing costs. Currently being manufactured by prime contractor IAI, AMOS-6 will be equipped with a payload of up to 80 Ku- and Ka-band transponders provided by MDA Corp. and will be launched by Space Exploration Technologies Corp. on a Falcon 9 launch vehicle in 2015.
The Milbank team was led by Global Transportation & Space partners Peter Nesgos (New York), Dara Panahy (Washington DC) and Jim Pascale (New York). Key Milbank team members included Global Transportation & Space associates Alexis Sáinz (Washington) and Bijan Ganji (Washington).
Partner Dara Panahy commented, “Milbank is very pleased to be able to assist Spacecom with its first-ever export credit financing, which will provide the company with the financing for the AMOS-6 satellite.”
