Ottawa-based Telesat says it intends to issue US$500 million worth of new secured notes as it ramps up production of its multibillion-dollar fleet of low-Earth orbit satellites.
The satellite equipment provider said Tuesday that proceeds from the planned offering to institutional buyers will help finance Telesat’s Lightspeed satellite program. The ambitious project will eventually see nearly 300 low-Earth-orbit satellites circling the globe.
Stationed between 1,000 and 1,300 kilometres above Earth, the satellites are designed to deliver broadband internet speeds comparable to those offered by fibre-optic networks.
Unlike some of its competitors, Telesat’s satellite network won’t deliver broadband connectivity directly to consumers. Instead, it will provide “backhaul” connections to enterprise customers such as internet service providers, airlines and cruise ship operators, who will then send the signals over their own networks.
farmlandgrab org | Australia: Unnamed European pension fund backs Warakirri farmland fund
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farmlandgrab org | Australia: Unnamed European pension fund backs Warakirri farmland fund
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