Telesat Corporation (TSE:TSAT) has released an update.
Telesat Corporation has secured a significant financial boost with a C$2.14 billion loan from the Canadian government, aimed at advancing its Telesat Lightspeed project, a Low Earth Orbit satellite constellation designed to enhance global broadband connectivity. The investment comes with a 15-year maturity and an interest rate tied to the CORRA, along with government warrants for a 10% equity stake in Telesat LEO, valued at US$3 billion. This strategic move is expected to yield substantial cost savings for Telesat and contribute to Canada’s leadership in the burgeoning New Space Economy.
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