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Telesat’s adjusted EBITDA fell 5% to 152 million Canadian dollars for the first quarter of 2021 compared with the same period in 2020.
COVID-19 impacts on commercial aero and maritime markets caused Telesat revenues to 2020-12-06% to 190 million Canadian dollars for the first quarter of 2021 compared with the same period in 2020 on an FX-adjusted basis.
Telesat secured a $500,000,000 bond in April as part of a debt package that will fund 60% of Lightspeed’s cost.
Telesat is on course to hit its U.S. C-band clearing targets, generating around $300,000,000 in total to partly fund the Lightspeed constellation.
In a regulatory filing submitted 2021-03-04, Telesat reported that Maxar was investigating an anomaly affecting the in-orbit Telstar 19 VANTAGE spacecraft that Maxar built for Telesat.
Telesat expects to start deploying its Lightspeed LEO constellation next year and has not finalized launch contracts.
Telesat announced plans on 2021-04-13 to raise $500,000,000 in debt to develop its Lightspeed LEO broadband network.
Telesat CEO Dan Goldberg expects to finalize contracts in the next couple of months to start launching nearly 300 Lightspeed satellites from next year.
Telesat Canada priced an offering of US$500,000,000 aggregate principal amount of 5.625 percent senior secured notes due 2026 by Telesat and Telesat LLC.
OneWeb and Telesat have launched LEO satellites providing connectivity to the business segment.
Telesat is finalizing plans to start launching a Lightspeed constellation of nearly 300 satellites beginning in 2022.
Loral Space & Communications and PSP Investments are Telesat’s largest shareholders following their 2007 leveraged buyout of the company for about $3,000,000,000.
Telesat plans to raise $500,000,000 with a bond to help fund its $5,000,000,000 Lightspeed broadband constellation.
Dan Goldberg, Telesat’s CEO, expects to complete Lightspeed’s financing within the next couple of months as of 2021-04-06.
MEF’s 3.0 Underlay Connectivity Service standards provide a standardized way for companies to understand the capabilities of Telesat Lightspeed and how to procure and integrate software-defined digital services into their networks.
Telesat has a contract backlog of 2.7 billion Canadian dollars that provides a predictable revenue stream over the next 12–18 months.
Canada’s federal government awarded Telesat 600 million Canadian dollars in funding in November to provide subsidized broadband services to rural communities.
Telesat expects Lightspeed will start offering services in 2023.
Telesat recorded 653 million Canadian dollars in adjusted EBITDA for 2020, a 14% decrease compared with 2019.
Telesat will issue senior secured notes due 2026 around 2021-04-27 as part of a debt package funding 60% of Lightspeed’s cost.