{"id":82378,"date":"2012-10-03T00:45:59","date_gmt":"2012-10-02T16:45:59","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/ex-im-bank-issues-118-million-loan-to-vietnam-for-lockheed-satellite\/"},"modified":"2012-10-03T00:45:59","modified_gmt":"2012-10-02T16:45:59","slug":"ex-im-bank-issues-118-million-loan-to-vietnam-for-lockheed-satellite","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/ex-im-bank-issues-118-million-loan-to-vietnam-for-lockheed-satellite\/","title":{"rendered":"Ex-Im Bank Issues $118 Million Loan to Vietnam for Lockheed Satellite"},"content":{"rendered":"<p>[10-02-12] The board of the <strong>Export-Import Bank of the United States (Ex-Im Bank)<\/strong> has authorized a $118 million direct loan to the government of Vietnam for the export of a <strong>Lockheed Martin Space Systems<\/strong> telecommunications satellite and additional goods and services, Lockheed Martin announced Oct. 2.<\/p>\n<p>\tThe Vinasat-2 geosynchronous satellite recently completed a series of in-orbit tests following its May 15 launch. Equipped with a payload of 24 active Ku-band transponders, the satellite aims to provide telecommunications and television services to developing markets in Vietnam, Cambodia, Laos, and Thailand.<br \/>\nThe loan represents Ex-Im Bank\u2019s first satellite transaction with the Vietnamese government and will finance $125 million in export sales. Hanoi-based state-owned enterprise <strong>Vietnam Post and Telecommunications Group (VNPT)<\/strong> is acting on behalf of the government in the transaction. BNP Paribas will serve as the documentation agent and letter-of-credit bank.<br \/>\n\tEx-Im Bank Chairman and President Fred Hochberg noted that the Bank\u2019s credit exposure in Vietnam accounted for $185 million of its portfolio as of December 2011.<br \/>\n\t\u201cAs one of our nine key markets, Vietnam affords American companies unique export opportunities,\u201d Hochberg said in a statement. \u201cThese opportunities promote economic growth in both countries, which in turn supports American jobs in vital U.S. industries. The satellite transaction in particular reflects the unsurpassed quality of American technology and the demand for it abroad.\u201d<br \/>\n\tHochberg added that the bank considered the transaction only after receiving presidential approval to do so in accordance with its charter, which requires the acting U.S. president to determine if a loan of $50 million or more to a Marxist-Leninist country is in the national interest before the Bank\u2019s board can vote on the transaction.<br \/>\n\t\u201cBy providing financing for Vietnam Posts and Telecommunications Group, this Ex-Im Bank loan supports U.S. manufactured satellites and U.S. jobs,\u201d said Lockheed Martin Space Systems Commercial Ventures vice-president Linda Reiners. \u201cWe congratulate our long-term customer VNPT, with whom we have now partnered in the manufacturing of two satellites.\u201d<br \/>\n&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[10-02-12] The board of the Export-Import Bank of the United States (Ex-Im Bank) has authorized a $118 million direct loan to the government of Vietnam for the export of a Lockheed Martin Space Systems telecommunications satellite and additional goods and services, Lockheed Martin announced Oct. 2. The Vinasat-2 geosynchronous satellite recently completed a series of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-82378","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/82378"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=82378"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/82378\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=82378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=82378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=82378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}