UAE-based satellite operator Space42 announced a US$695.5 million Export Credit Agency (ECA)-backed financing facility to fund the development of its next-generation geostationary satellites, Al Yah 4 and Al Yah 5, planned for launch in 2027 and 2028.
Arranged by Crédit Agricole CIB, Santander CIB, Société Générale, and Natixis, and backed by Bpifrance Assurance Export, the financing provides cost-effective, long-term capital aligned with Space42’s satellite development schedule and strengthens its liquidity for future growth.
This facility complements a prior US$5.1 billion contract signed with the UAE government in December 2024, which also supports funding for Al Yah 4 and Al Yah 5.
CFO Andrew Cole highlighted the strategic importance of these satellites in enhancing secure multi-orbit communications across defense and civil sectors, ensuring uninterrupted connectivity for critical missions.
Featuring software-defined architectures with fully flexible payloads reconfigurable in orbit, Al Yah 4 and Al Yah 5 will optimize coverage, bandwidth, and frequency dynamically to meet evolving operational needs across the Middle East, Africa, Europe, and Asia.
These satellites will eventually replace the aging Al Yah 1 and Al Yah 2 satellites, operational since 2011 and 2012 respectively.
