Telesat and Government of Canada Agree to Terms on C$2.14 Billion Loan in Support of Telesat Lightspeed
Telesat Corporation (TSAT)
Company Research
Source: GlobeNewswire
OTTAWA, April 01, 2024 (GLOBE NEWSWIRE) -- Telesat (NASDAQ and TSX: TSAT), one of the world’s largest and most innovative satellite operators, announced that on March 28, 2024, Telesat received a letter from Canada’s Minister of Innovation, Science and Industry regarding an investment in Telesat Lightspeed. The letter states that, following several months of negotiations between Telesat and federal officials, the Government of Canada (GoC) is prepared to invest C$2.14 billion in Telesat Lightspeed by way of a loan to Telesat LEO Inc., a wholly owned subsidiary of Telesat, that is developing and will own and operate the highly advanced Telesat Lightspeed Low Earth Orbit (LEO) global broadband satellite constellation. The loan will carry a floating interest rate that is 4.75% above the Canadian Overnight Repo Rate Average (CORRA) with a 15-year maturity. Interest is payable in-kind during the Telesat Lightspeed construction period, followed by a 10-year sculpted amortization. Further
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TSAT
News
- Telesat First Quarter 2024 Earnings Conference CallGlobeNewswire
- Telesat Corp (NASDAQ: TSAT) is now covered by analysts at Deutsche Bank Aktiengesellschaft. They set a "hold" rating and a $9.00 price target on the stock.MarketBeat
- Investing in Space: NASA's tool for seeing the solar eclipse [CNBC]CNBC
- Telesat reaches deal with Ottawa for high-yield $2.14-billion loan for satellite constellation [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Telesat Corporation (NASDAQ:TSAT) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
TSAT
Sec Filings
- 4/8/24 - Form SC
- 4/1/24 - Form 6-K
- 3/28/24 - Form 6-K
- TSAT's page on the SEC website