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Acting as lead arranger, BNP Paribas has executed a USD 120 million structured Coface-insured buyer's credit in favor of Brazilian satellite operator Star One.

This credit will finance a Ku-band satellite supplied by Alcatel Space to provide high value-added services to South America, such as multimedia and high-speed Internet. Star One, Latin America's leading satellite operator, is a 80%-owned subsidiary of Embratel, the number-one long distance operator in Brazil, and 20%-owned by SES Global, the world's largest satellite operator.

The transaction is a milestone in several respects: the first sale of, and the first financing for, an Alcatel satellite in Latin America, and first credit facility granted to Star One since it was founded in October 2000.

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