Indosat secures USD228.5m worth of loans for Palapa-D

3 Dec 2007

Indonesia’s second largest telecoms company by subscribers and revenues, Indosat, says it has arranged loans worth a total of USD228.5 million to fund its Palapa-D satellite project. According to Thomson Financial the loans were arranged by HSBC and consist of two twelve-year export credit facilities and a nine-year commercial loan facility. Each facility carries a two-year grace period. The Palapa-D orbiter will replace the operator’s Palapa-C satellite whose operation is due to expire in Q1 2011. The replacement, which will have a 15-year lifespan, is being built by Thales Alenia Space of France and is slated for launch in September 2009. It will be carried to the orbital slot currently occupied by Palapa-C2 by the launching vehicle Long March 3B, manufactured by Beijing Talentway Technology Corp of China.