NewSat close to funding new satellites
Listed satellite company NewSat is likely to finalise the funding needed to launch two new satellites after signing a deal which takes its pre-launch contracts to $US526 million.
NewSat announced today it had signed a 15-year $US180 million contract with MEASAT to supply capacity on its Jabiru-1 satellite. MEASAT supplies communication services across the eastern hemisphere. NewSat already has contracts with TrustComm, 3A Technologies and Quicklink.
‘‘Clearly this deal now takes us well above the amount that we need to have to satisfy even the most stringent requiremnets for financing,’’ NewSat chief executive and founder Adrian Ballintine said.