Malaysian Regulatory Agency Confirms Orbital Slot for NewSat’s Jabiru 1 Satellite
[Via Satellite 12-31-13] NewSat has received a copy of the confirmation letter issued by the Malaysian Communications and Multimedia Commission (MCMC) to use Measat’s orbital slot 91.5 degrees east for the Jabiru 1 satellite.
As part of the transaction with Measat, in which the company agreed to purchase $197 million of Jabiru 1 satellite capacity payable over the 15 year life of the satellite, NewSat agreed to locate the satellite in an orbital slot held by Measat at 91.5 degrees east, providing coverage over both Measat’s and NewSat’s target markets.
Use of this orbital slot for the satellite, owned by NewSat, required the confirmation of the MCMC. This confirmation finalizes the export credit process. NewSat will now submit documentation demonstrating it has satisfied the Export Credit Agencies’ conditions precedent to allow drawdown on the facilities to complete the construction of its Jabiru 1. The satellite is scheduled for launch in 2015, has already secured $618 million in pre-launch customer contracts, and has a $454 million forward sales pipeline.