PLD Space secures €11 million loan from COFIDES
Deal News | Dec 02, 2024 | Cia Espanola de Financiacion d
PLD Space, a leading Spanish aerospace company known for its reusable rockets, has secured an €11 million loan from COFIDES, a state-owned financial entity, to advance the development of its MIURA 5 launch site in Kourou, French Guiana. The project represents a total investment of €16 million and aims to bolster PLD Space's contribution to European space infrastructure and autonomy. This financial backing, obtained through a co-investment loan from the Fund for Foreign Investment (FIEX), will enhance Europe's competitive access to space as PLD Space continues to expand its service offerings, including planned future human missions with its LINCE capsule. The arrangement was formalized in Madrid with key Spanish state officials present. PLD Space's commitment to the local community in Kourou includes the creation of jobs and engagement with regional suppliers.
Sectors
- Aerospace
- Financial Services
Geography
- Spain – PLD Space is a Spanish company and COFIDES is a Spanish state-owned trading company, making Spain the primary geography.
- French Guiana – The MIURA 5 launch site is being developed in Kourou, French Guiana, which is key to PLD Space's operations and development plans.
Industry
- Aerospace – The article focuses on PLD Space, a company involved in developing reusable space launchers, which is a key player in the aerospace industry.
- Financial Services – COFIDES, a state-owned financial entity, is providing the loan to PLD Space, highlighting the financial services sector's role in international investment and funding.
Financials
- €11 million – Loan amount secured by PLD Space from COFIDES.
- €16 million – Total planned investment by PLD Space for the MIURA 5 launch site development.
- €170 million – Total funding PLD Space has received to date.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PLD Space | Target Company | Companies | A Spanish aerospace company specializing in reusable space launchers. |
| COFIDES | Lender | Companies | A state-owned financial entity in Spain that supports the internationalization of the Spanish economy. |
| Deloitte | Advisor | Companies | Advised PLD Space and COFIDES in the transaction. |
| KPMG | Financial Advisor | Companies | Provided financial advisory services for the transaction. |
| Hogan Lovells | Legal Advisor | Companies | Acted as legal counsel for the transaction. |
| Amparo López Senovilla | Government Representative | People | Secretary of State for Trade, present at the formalization of the project. |
| Ángela Pérez | Chairperson of COFIDES | People | Highlighted the support for PLD Space and its technological contributions. |
| Ezequiel Sánchez | Executive President of PLD Space | People | Expressed gratitude for COFIDES' support. |