4th Sep 2025 04:09
(Alliance News) - Deutsche Bank AG on Thursday said it has finalised an agreement alongside Standard Chartered PLC to provide financing for a Thai satellite project.
Deutsche Bank, a Frankfurt-based lender, and its London-based peer, successfully closed a USD184 million export credit facility for Space Tech Innovation.
STI is a subsidiary of Thaicom PCL, a Bangkok-based satellite operator and space technology company.
The credit facility has a 14-year term and will be used to support the development of the Thaicom10 satellite project.
Specifically, the loan will finance STI's commercial contract with the Airbus Defence & Space division of Leiden, Netherlands-based Airbus SE.
With a US launch scheduled for 2027, the Thaicom10 satellite aims to improve connectivity in Thailand by increasing broadband internet access in remote areas and maritime connectivity.
Pimolpa Simaroj, chief country officer of Deutsche Bank Thailand, said: "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. We hope to pave the way for future transactions that help our homegrown companies advance their local and global growth ambitions."
The facility is guaranteed by France's export credit agency Bpifrance Assurance Export.
Deutsche Bank shares closed 0.4% higher at EUR29.80 in Frankfurt on Wednesday, while Standard Chartered shares closed 0.8% lower at 1,359.00 pence in London.
By Elijah Dale, Alliance News senior reporter Asia-Pacific
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