2 days ago
Space42 secures $695.5mln facility to fund UAE satellites
The Abu Dhabi-listed Space42 has secured a $695.5 million Export Credit Agency (ECA)-backed financing facility to fund the development of UAE's next-generation geostationary satellites, Al Yah 4 and Al Yah 5.
The AI-powered SpaceTech firm, which is backed by Abu Dhabi sovereign investor Mubadala, G42 and the International Holding Company, said the facility has been arranged by Crédit Agricole CIB, Santander CIB, Societe Generale, and Natixis and backed by Bpifrance Assurance Export.
Space42 said the facility will provide long-term financing that is aligned with its satellite development timeline, whilst strengthening its liquidity position to support future growth.
The Al Yah 4 and Al Yah 5 programme is underpinned by a 17-year, $5.1 billion government contract commencing in 2026, with the satellites scheduled for launch in 2027 and 2028.
Space42 debuted on the Abu Dhabi Securities Exchange (ADX) in October following the merger of Bayanat and Al Yah Satellite Communications Company (Yahsat).
