Hisdesat €1,012m Spanish state loan for PAZ 2
Pre-finance the two-satellite PAZ 2 radar Earth observation system replacing PAZ-1, operated for the Ministry of Defence
Key terms
- Borrower or issuer
- Hisdesat
- Date
- 20 May 2025
- Type
- Government finance
- Amount
- €1.01bn (US$1.1bn)
Recorded terms
- Structure
- Multi-year loan from the Ministry of Industry and Tourism, funded 2025 to 2032
- Lenders and arrangers
- Spanish Ministry of Industry
- Country
- Spain
Parties
- Hisdesat borrower or issuer
- Public lenders and funders: Spanish Ministry of Industry
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 12 Sep 2025 | Cailabs €37m EIB financing for optical ground stations | Government finance | €37m |
| 23 Sep 2025 | EIB €37.5m venture loan to Aerospacelab | Government finance | €37.5m |
| 23 Dec 2024 | EIB €150m loans to SES (2024) | Government finance | €150m |
| 16 Dec 2024 | IRIS² concession contract (SpaceRISE) | Government finance | €10.6bn |
| 4 Dec 2024 | EIB €30m loan to Sateliot | Government finance | €30m |
More from Hisdesat
| Date | Financing | Type | Amount |
|---|---|---|---|
| 29 Mar 2019 | Hisdesat €750m Spanish state loan for SpainSat NG | Government finance | €750m |
Sources
- Ministerio de Hacienda: spending limits authorised for the PAZ II satellite programme hacienda.gob.es · 20 May 2025
About this record
Record ORB-2025-0026, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
Government and EU money comes as loans, guarantees or grants tied to a policy aim, with conditions on use of proceeds and reporting.
