BCE-owned satellite operator to use proceeds for Anik F2 construction.
OTTAWA, December 19, 2002 – Telesat Canada announced today that it has entered into an agreement with Export Development Canada (EDC) for pre-export financing of up to USD$35 million toward the construction of the Anik F2 satellite. The agreement will fund the construction of Anik F2’s Ka-band payload to service customers in the United States. The unsecured, pari passu financing contains conditions consistent with Telesatís existing debt arrangements.
ìWhile Telesatís primary objective remains to provide service to Canadians, the EDC financing will support Telesatís geographic expansion of service within North America,î said Larry Boisvert, Telesatís president and CEO. “Anik F2 will commercialize the use of the Ka-band, making it ideal for the delivery of multimedia services such as high-speed Internet, tele-medicine, tele-learning, tele-working and e-commerce.î
About Telesat
Telesat is a world leader in satellite operations and systems management. The company made history in 1972 with the launch of the first domestic commercial communications satellite in geostationary orbit. Today, Telesat competes with other top international satellite fleets in providing telecommunications and broadcasting services throughout the Americas. Telesat is a wholly-owned subsidiary of BCE Inc., one of the world’s premier communications companies.
About EDC
EDC provides trade finance and risk management services to Canadian exporters and investors in up to 200 markets. Founded in 1944, EDC is a Crown corporation that operates as a commercial financial institution.
For more information:
Dan Tisch
Argyle Rowland Communications
(416) 968-7311 ext. 223
dtisch@argylerowland.com
Ted Ignacy
Telesat Canada
(613) 748-0123
