Milbank Advises on Financing for Launch Services for OneWeb’s Global Broadband Satellite Constellation

Milbank LLP represented Network Access Associates Limited, a subsidiary of OneWeb Holdings Limited (“OneWeb”), in connection with a US$94 million secured term loan facility from the Export-Import Bank of India. The proceeds of the loan facility were applied by OneWeb to finance, in part, expenditures associated with two launch services of 36 satellites each by New Space India Limited, on behalf of the Indian Space Research Organisation, for deployment of OneWeb’s GEN 1 global broadband satellite constellation.

OneWeb, a low Earth orbit (LEO) satellite communications company, is part of the Eutelsat Group.

The Milbank team was led by London-based Transportation and Space partner Nick Swinburne and included Washington, DC-based Transportation and Space partner Dara A. Panahy, Tax partner Alan Rafferty, Transportation & Space associates Tom Jackson and James Johnson and Tax associate Jade Du Berry.