German lender Deutsche Bank has closed a US$184 million export credit facility for Space Tech Innovation ( STI ), a subsidiary of Thaicom, an Asian satellite operator and space technology company, with the facility guaranteed by the French export credit agency ( ECA ) Bpifrance Assurance Export.

Under the agreement, Deutsche Bank and Standard Chartered will provide STI with a 14-year US$184 million loan for the development of the Thaicom 10 satellite project.

The loan will finance STI’s commercial contract with France’s Airbus Defence & Space to manufacture the new software-defined high-throughput satellite, which will support broadband internet in remote areas, maritime connectivity, distance learning, telemedicine and security in Thailand. STI plans to launch it on SpaceX’s Falcon 9 rocket from Florida, USA, in 2027.

“We are delighted to have completed our first ECA financing in Thailand and support Thaicom’s groundbreaking satellite project, which will become a major milestone in the space technology sector,” says Pimolpa Simaroj, Deutsche Bank Thailand’s chief country officer. “We hope to pave the way for future transactions that help our homegrown companies advance their local and global growth ambitions.”

Patompob Suwansiri, Thaicom’s CEO, adds: “This strategic partnership with Deutsche Bank highlights our strong expertise and long-standing presence in the satellite and space technology industry. The investment in Thaicom 10 marks a significant step forward in our long-term growth strategy, enhancing our operational capabilities and enabling us to deliver advanced satellite services that meet the dynamic needs of markets across the region.”