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Home , Amazonas 3, EchoStar XIV, Intelsat, Iridium Communications, Koreasat 6, SkyTerra

December 2010

- SPECIAL EDITION: THE TOP-10 SPACE BUSINESS STORIES OF 2010 – #1 – ECAs Take Center Stage #6 – Broadband Market Grows Export credit agencies played a major role in The FCC’s National Broadband Plan space financings in 2010. COFACE of stimulated broadband applications France backed a $1.8b credit facility for by proposing terrestrial use of certain Communications Inc. for its licensed MSS S- and L-band spectrum while Iridium NEXT constellation, a $1.2b facility the Ka-band satellite broadband market for Networks Limited and a $115m continued to grow with ViaSat reporting a loan for , LLC. The 15% increase in subscribers and Hughes U.S. Ex-Im Bank loaned $215.6m to Avanti Communications surpassing 500,000 Communications Group plc, $171.5m to subscribers. Avanti Communications SES S.A. and $666m to plc for its launched the HYLAS 1 broadband satellite, Global Xpress™ program. LightSquared™ Inc. launched SkyTerra 1 #2 – Debt & Equity Markets Heat Up and launched KA-SAT. Markets end on a high note in 2010. SIRIUS #7 – Exits Ch. 11 XM Inc. closed $910m in note offerings, Sea Launch Company successfully ViaSat, Inc. closed a public offering of 6.9m of completed its Chapter 11 reorganization its shares, Eutelsat S.A. refinanced €1.3b of process with Sea Launch S.a.r.l. as the debt, Inmarsat plc closed a debt facility of successor entity and Energia Overseas €225m, Avanti Communications raised Limited of the new majority owner, approx. £70m in a share placement, investing more than $140m in capital. Jackson Holdings S.A. priced $1b aggregate #8 – FSS in Motion amount of notes and LightSquared™ Inc. A number of FSS sector developments took secured $850m in debt. place in 2010: MEASAT privatized following #3 – New Direction in Space Access its take-over by MEASAT Global Network As NASA’s Space Shuttle program wound Systems Sdn Bhd; the holding company of down and the Constellation Program was Asia Broadcast Satellite Holdings Ltd. restructured to retain a "commercial crew" was acquired by Permira-managed funds; direction with substantially less funding, the widely anticipated sales process for Telesat Space Exploration Technologies Holdings Inc. commenced and Intelsat S.A. Corporation celebrated the successful began its recapitalization program. Space Business Review inaugural flight of its launcher in June #9 – Satellite Manufacturers Keep Up and an equally successful Dragon spacecraft 19 commercial satellite orders were issued in launch and recovery mission in December 2010: Ball Aerospace & Technologies Corp.: auguring a possible new commercial direction WorldView-3; Company: three Ka- in space transportation. band for Inmarsat plc and three #4 – Hosted Payloads Gain Traction MEXSAT satellites for the government of As part of a growing trend, SES ASTRA Mexico; EADS : SES-6 and W5A; provided services for the Lockheed Martin Commercial Space European Commission EGNOS program on Systems: VINASAT-2; Orbital Sciences its satellite, Intelsat S.A. and the Corporation: Azerspace/Africasat-1a; Space Australian Defence Force extended their Systems/Loral: Satmex 8, Anik G1, DIRECTV hosted payload agreement to cover the entire 14, Amazonas 3, a satellite for ictQATAR and UHF payload on the satellite and Eutelsat Communications and ABS-2; Iridium NEXT sought hosted payloads on its : Iridium NEXT next generation LEO satellites. constellation (72 satellites in-orbit and 9 #5 – Launch Activity Looks Up spares), W3B, APSTAR 7B, W6A, ARSAT-2 24 commercial satellites were successfully and Express AM8, AT1 and AT2. launched in 2010: : Intelsat 17, #10 – Remote Sensing Develops HYLAS 1, W3B, BSAT-3b, six -2 DigitalGlobe, Inc. and GeoEye, Inc. were satellites (in cooperation with Starsem, Samara awarded separate $3b+ 10-year contracts by Space Center and NPO Lavochkin), NILESAT the National Geospatial-Intelligence 201, RASCOM-QAF1R, Arabsat-5A, ASTRA Agency in August. DigitalGlobe executed a 3B, 1E and 6; International secondary offering for 6m of its shares at BEIJING Launch Services: SkyTerra 1, XM-5, EchoStar $30.25 per share and GeoEye completed the FRANKFURT XV, BADR-5, SES-1, EchoStar XIV, private placement of 80k shares to an affiliate HONG KONG LONDON and KA-SAT. of Cerberus Capital. LOS ANGELES MUNICH To learn about Milbank’s Space Business Practice, or view previous issues of the Space Business Review, please visit www.milbank.com. NEW YORK The information contained herein is provided for informational purposes only and should not be construed as legal advice on any subject matter. Recipients of this publication should not take or refrain from taking any action based upon content included herein. If you do not wish SÃO PAULO to receive this newsletter, please send an e-mail to [email protected] with the word “unsubscribe” in the subject line. ATTORNEY SINGAPORE ADVERTISING. Prior results do not guarantee similar results. TOKYO © 2010 - Milbank, Tweed, Hadley & McCloy LLP. WASHINGTON DC