jabiru funding announcement...

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... Not for distribution or release in the United States...
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ASX Release
18 June 2012...
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~US$280 MILLION EX-IM BANK DIRECT LOAN REFERRED TO U.S. CONGRESS
– A SIGNIFICANT MILESTONE FOR THE JABIRU-1 PROJECT
? The Export-Import-Bank of the United States (Ex-Im Bank) Board has considered and approved a referral to Congress of NewSat's application for a ~US$280 million direct loan
? The referral to Congress is an indication the transaction complies with Ex-Im Bank's lending requirements
? COFACE approval for US$95-100 million debt facility guarantee expected in July
? Financial close of funding anticipated late July
? Lockheed Martin confirms Jabiru-1 satellite construction is on track
NewSat Limited (ASX: NWT), Australia’s satellite company, is pleased to announce that the Board of the US based export credit agency, Ex-Im Bank, has voted and approved the referral to Congress of NewSat’s application for a ~US$280 million direct loan. The Board’s vote of approval to refer NewSat’s application to Congress is an indication that the transaction complies with Ex-Im Bank’s lending requirements, and follows over six months of due diligence by Ex-Im Bank and its advisors. Following a 35 day Congressional notification and comment period, NewSat’s application is eligible for a final vote on approval.
An application is currently under consideration by COFACE and NewSat expects to be able to provide an update to the market in July.
Lazard is acting as financial advisor to the Company on the transaction.
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