Thaicom Public Company Limited (SET: THCOM or Thaicom), a leading Asian satellite operator and space tech company, announced that its subsidiary, Space Tech Innovation Company Limited (STI), had successfully signed a USD 184 million ECA supported export credit facility with Deutsche Bank and Standard Chartered Bank for the THAICOM 10 Satellite.
Under the agreement, Deutsche Bank and Standard Chartered Bank will provide STI with a 14 year USD 184 million loan (about THB 6,000 million baht at THB 32.3 per USD 1) for the financing of its commercial contract with Airbus Defense & Space of France (AIRBUS) for the manufacturing of a 120 Gbps SD-HTS Satellite. The export credit facility will benefit from the support of the French Export Credit Agency (ECA), Bpifrance Assurance Export.
This strategic collaboration aims to enhance Thaicom’s capabilities for its new satellite project, especially THAICOM 10 Satellite, the upcoming, new generation software defined high throughput satellite (SD-HTS), built by AIRBUS, a European leader in defense and security and one of the world’s leading space businesses. The satellite will operate at the 119.5 degrees East orbital slot and plans to be launched on SpaceX’s Falcon 9 rocket from Florida, USA in 2027.
Mr. Patompob Suwansiri, Chief Executive Officer of Thaicom, said, “This strategic partnership with Deutsche Bank and Standard Chartered Bank highlights Thaicom’s strong expertise and long-standing presence in the satellite and space technology industry. The investment in THAICOM 10 Satellite 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. This advanced satellite will support key applications such as broadband internet in remote areas, maritime connectivity, distance learning, telemedicine, and national defense and security. We deeply appreciate the trust and support from the two leading financial institutions involved in this agreement.”
Ms. Yupapin Wangviwat, Deputy Chief Executive Officer and Chief Financial Officer of Gulf Development Public Company Limited (SET: GULF), said, “As Thaicom’s major shareholder, Gulf Development is proud to support the THAICOM 10 Satellite project, which represents a key step in building Thailand’s digital infrastructure. This loan approval reflects one of our strategic commitments to advancing satellite and space technologies as part of our broader digital business portfolio. This agreement marks a significant milestone in expanding our business beyond the energy sector, enabling Gulf Development to diversify and sustainably grow our digital ventures across various industries.”
Ms. Pimolpa Simaroj, Chief Country Officer of Deutsche Bank Thailand, said, “We are delighted to support Thaicom through the loan agreement for the THAICOM 10 Satellite project. This transaction marks Deutsche Bank Bangkok’s first ECA financing and Thailand in many years. This agreement marks a major development of Thailand’s satellite and space technology sector. Thaicom’s strong business strategy and advanced satellite capabilities demonstrate its readiness to lead in innovation and regional cooperation. We believe this support will help Thaicom grow sustainably and strengthen its role in the industry.”
Ms. Anchalee Bunsongsikul, Chief Executive Officer and Head, Banking and Coverage – Thailand & Representative Offices of Standard Chartered Bank, said, “Standard Chartered is pleased to support Thaicom through the loan agreement for the THAICOM 10 Satellite project. This partnership reflects our confidence in Thaicom’s proven expertise and its strategic vision in satellite communications. We believe THAICOM 10 Satellite will significantly enhance Thailand and regional infrastructure and contribute to sustainable development.”
