Telesat secures $2.14B government loan for Lightspeed satellite construction, with 10% warrants for Ottawa.

Telesat and Ottawa agree on a $2.14B government loan to support the construction of Telesat's low earth orbit satellites. The loan, with a 15-year maturity and an interest rate set at 4.75% above the Canadian Overnight Repo Rate Average, will finance Telesat's Lightspeed constellation. The government will receive warrants for 10% of the company's common shares based on a $3B equity valuation.