HISPASAT, Redeia’s satellite communications operator, signed a line of credit “for the amount of 250 million euros” with a group of five financial institutions composed of CaixaBank, acting as the agent bank of the operation and sustainability coordinator, BBVA, Societé Generale, Bankinter and Kutxabank.
This agreement, which extends and expands the current line of credit, makes it possible to adapt the terms and conditions of funding to the ESG (Environmental, Social and Governance) criteria and indicators aligned with Redeia’s policies in this area. It marks a milestone in HISPASAT’s Sustainability Strategic Plan since it is the first ESG Funding undertaken by the company.
The new multi-currency revolving line of credit extends its maturity date to August 2025, with the possibility of extending it on a yearly basis to August 2027. Thus, the company reinforces its liquidity policy and at the same time supports the execution of its 2020-25 Strategic Plan, irrespective of the conditions that financial markets may have in the short and medium term.
Juan Jesús García Chaparro, Economic and Financial Director of HISPASAT, stated that “during these tough times for international markets, the financial sector’s support of HISPASAT is a strong sign of confidence in the strength of the company and its strategic project to move up the satellite services value chain while we firmly commit to sustainability and socially responsible actions within the scope of our activity”.
HISPASAT, Redeia’s satellite communications operator, offers broadband solutions and satellite connectivity that include internet access, mobility and mobile network extension, as well as other added-value proposals to governments, corporations and telecom operators in the Americas, Europe and North Africa. HISPASAT is also a leader in the broadcasting and distribution of multimedia content in Spanish and Portuguese, including the transmission of major digital Direct-to-Home (DTH) Television and High-Definition Television (HDTV) platforms, as well as the management of transportation and multimedia signal from HISPASAT Peru’s teleport in Lurín. HISPASAT, formed by companies present both in Spain and in Latin America, where its Brazilian subsidiary HISPAMAR is located, is one of the leading companies in the world by revenue in its sector and the main communications bridge between Europe and the Americas.