OREANDA-NEWS. August 18, 2010. Gazprombank has granted Gazprom Space Systems (Gascom) two credit lines with limits of RUR 1755 million and USD 94 million. The loan was granted in RUR for a term of 9 months. Loan designation is to finance work on development of a space system “Yamal-401” as well as launch of the space satellite. “Yamal-401” space system is being developed by a Russian subcontractor JSC “Informational Satellite Systems” Reshetnev Company. “Yamal-401” satellite will be launched by a launch vehicle “Proton-M”.

Gazprombank is the only Russian bank financing “Yamal-401” development. Co-financing of the project providing for launch of two satellites – “Yamal-401” and “Yamal-402” – ensured by a pool of foreign banks including BNPP, Citi, Credit Agricole Corporate & Investment Bank with participation of COFACE export agency.

Gazprom Space Systems is one of two Russian satellite operators providing a wide range of services: development of space systems, info-communication systems, info-communication services. The Company has developed and is now operating a system of satellite communication and broadcasting “Yamal” comprising an orbital satellite constellation (satellites “Yamal-100”, “Yamal-201” and “Yamal-202”) as well as ground-based infrastructure. Currently, Gazprom Space Systems is producing space communication and broadcasting systems “Yamal-300” and “Yamal-400”.