THAICOM and KBANK win Asia Pacific Communications Deal of the ...

The THAICOM 6 satellite finance deal between THAICOM and Kasikorn Bank won the ?Asia Pacific Communications Deal of the Year 2011? from Euromoney?s ProjectFinance magazine. This is the first time that a Thai satellite project was financed through a local commercial bank and that it was structured similarly to that of foreign Export Credit Agencies (ECA).

Somprasong Boonyachai, Chairman of the Executive Committee of INTOUCH Group, said: ?On behalf of the INTOUCH Group, I would like to congratulate THAICOM and Kasikorn Bank for receiving the ProjectFinance ?Asia Pacific Communications Deal of the Year 2011?. Over the past 20 years, INTOUCH has continuously been supporting the growth of THAICOM?s satellite business and to build a strong and stable foundation for INTOUCH. THAICOM is a strategic business unit of INTOUCH. We have every confidence that the THAICOM 6 satellite will help further strengthen THAICOM?s success in the broadcasting industry in Thailand and in the region.?

Suphajee Suthumpun, Chairman of the Executive Committee and Chief Executive Officer of THAICOM said, ?THAICOM 6?s total project cost of US$163 million in capital investment was mainly financed through Kasikorn Bank, the remainder coming from the company?s internal cash flow. In the past, we financed all our satellites through Export Credit Agency (ECA) banks from the country of manufacture of the satellites and launch services. This is due to the fact that ECAs are familiar with loans of this nature. However, this is the first time since we launched our first satellite into orbit that we have successfully financed our project through a local commercial bank. The terms and conditions of the financing agreement were similar to that of ECAs and the deal was executed in a shorter amount of time. The company would like to thank Kasikorn Bank for its confidence in the THAICOM 6 project. We are also delighted that this deal received ProjectFinance?s ?Asia Pacific Communications Deal of the Year 2011? due to the unique nature of this project and Kasikorn Bank?s ability to finance it.

?The construction of the THAICOM 6 satellite is going according to plan and is now at the Critical Design Review (CDR) phase. With regards to the pre-sales activities of THAICOM 6?s capacity, we are pleased that we?ve already secured 15 percent of the total capacity, and we are aiming for 30 percent before the launch of the satellite next year?, continued Suphajee.

Krisada Lumsum, Senior Managing Director of Kasikorn Bank, said regarding the financing of the project: ?Kasikorn Bank is delighted to have won the trust of THAICOM Public Company Limited and to have provided financial support worth US$ 136.8 million. The THAICOM 6 satellite project plays a critical part in the Thai telecommunications industry. This is the first time that a local commercial bank has been able to structure a deal that meets the financial needs of the company in a manner that is equal to that of ECAs. Part of the success was the right timing which allowed the bank to take advantage of the volatility of the US dollar denominated money market funds. Furthermore, the cordial relationship between the teams allowed the bank to fully understand the needs of the company and to structure the loan to meet its financial needs. We believe that THAICOM will continue to grow in the telecommunications business in the region. The success of THAICOM will further enhance the development of the telecommunications industry in Thailand?.

THAICOM 6, a STAR 2 model satellite is now under construction by Orbital Sciences Corporation of U.S.A. There are a total of 26 transponders including 18 C-band transponders and 8 Ku-band transponders. THAICOM 6 will be launched into the orbital location of 78.5 degrees East in mid-2013 by the Falcon 9 rocket of Space Exploration Technologies Corporation (SpaceX), U.S.A. and the satellite will be collocated with the THAICOM 5 satellite.

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