Space42 has secured a $695.5 million Export Credit Agency (ECA)-backed financing facility to support the development of its next-generation geostationary satellites, Al Yah 4 and Al Yah 5.

The financing represents a key milestone in Space42’s strategy to expand its connectivity infrastructure across multiple orbits. The facility was arranged by Crédit Agricole CIB, Santander CIB, Société Générale, and Natixis, with support from Bpifrance Assurance Export.

Al Yah 4 and Al Yah 5, scheduled for launch in 2027 and 2028, will be funded through this long-term facility. This facility aligns with the satellites’ development timeline and is designed to strengthen Space42’s liquidity and support its growth ambitions.

According to Chief Financial Officer Andrew Cole, the satellite program is backed by a 17-year, $5.1 billion government contract set to begin in 2026.

He said the initiative reinforces the company’s position as a provider of secure, multi-orbit connectivity solutions for both defense and civilian applications. Cole added that the ECA financing structure helps reduce funding costs while enhancing financial flexibility.

The two satellites will feature software-defined architecture and fully reconfigurable payloads, allowing real-time adjustments in coverage, bandwidth, and frequency across regions including the Middle East, Africa, Europe, and Asia.

Al Yah 4 and Al Yah 5 will complement and eventually replace Al Yah 1 and Al Yah 2, launched in 2011 and 2012.