On November 15, 2024, Export Development Canada, a Crown corporation, entered into a C$2.1 billion unsecured credit agreement with Canadian Development Corporation to help finance Telesat LEO Inc.’s highly advanced Telesat Lightspeed Low Earth Orbit (LEO) broadband satellite constellation.
The financing supports Canada’s strategy to expand high‑speed Internet access to rural and remote communities, with Telesat Lightspeed expected to enable broadband, LTE, and 5G services, ultimately improving connectivity for approximately 40,000 households. The project strengthens Canada’s position as a global leader in the growing new space economy and advances the federal government’s commitment to achieving universal high‑speed Internet access by 2030, including for many northern and Indigenous communities.
Fasken advised Export Development Canada with a team led by Elana Hahn (Banking) and included Koker Christensen (Regulatory), Hayley Larkin (Banking) and Jennifer Law (Law Clerk).
Jurisdiction
- Ontario
