Space42 has secured a US$695.5 million Export Credit Agency-backed financing facility to support the development of its next-generation geostationary satellites, Al Yah 4 and Al Yah 5. The facility marks a significant step in the company’s broader strategy to establish advanced, multi-orbit connectivity infrastructure.
Arranged by Crédit Agricole CIB, Santander CIB, Societe Generale, and Natixis, and backed by Bpifrance Assurance Export, the deal underscores Space42’s attractiveness to leading global financial institutions. The financing will fund satellites scheduled for launch in 2027 and 2028, enabling the company to align capital with long-term project timelines. Additionally, the structure enhances liquidity, allowing Space42 to pursue other strategic growth initiatives.
Focus on Resilient, Secure Communications Capabilities
Andrew Cole, Chief Financial Officer of Space42, said, “The Al Yah 4 and Al Yah 5 program is underpinned by a 17-year, $5.1 Billion Government contract commencing in 2026 and advances our goal to become the trusted leader in secure connectivity by providing multi-path critical connectivity solutions. This strategic pillar focuses on enhancing secure communication capabilities across defense and civil domains through multi-orbit satellite networks that ensure uninterrupted connectivity for mission-critical applications. The ECA financing structure optimises our cost of funding and provides increased financial flexibility to execute our growth agenda.”
These satellites are designed with software-defined architecture and fully flexible payloads. As a result, they can be reconfigured while in orbit, allowing for real-time adjustments to bandwidth, coverage, and frequency. This adaptability ensures that the systems can meet evolving regional demands, including those in the Middle East, Africa, Europe, and Asia.
Next-Gen Systems to Replace Legacy Satellites
Al Yah 4 and Al Yah 5 will gradually replace the older Al Yah 1 and Al Yah 2 satellites, which were launched in 2011 and 2012, respectively. Their advanced capabilities will enhance mission-critical communication for both civil and defense sectors, thereby reinforcing the UAE’s long-term space ambitions. Furthermore, this investment positions Space42 as a central player in delivering next-generation satellite connectivity solutions globally.
