Ottawa Putting $1.44B Toward Telesat's Broadband LEO Constellation

The Canadian government will provide a $790 (Canadian) million loan and make a $650 million preferred equity investment in Telesat's forthcoming Lightspeed low earth orbit broadband constellation, Telesat said Thursday. Telesat said it committed to creating at least 700 full-time equivalent positions in Canada and to $1 billion in capital spending there for the initial constellation, plus further spending toward its subsequent constellation. Telesat CEO Dan Goldberg said the Canadian government loan and investment, atop other investments including from the government of Quebec (see 2102190002), gives it about $4 billion to put toward Lightspeed, with the remaining commitments expected in the near term. ($1 Canadian = $.80 U.S.)