U.S. Ex-Im Bank prepares possible seizure of Bulgaria Sat 1 satellite in wake of loan nonpayment

by Peter B. de Selding

PARIS — The U.S. Export-Import Bank is preparing a possible seizure of the Bulgaria Sat 1 telecommunications satellite, in orbit since 2017, following the owner’s inability to reimburse an Ex-Im loan of $150.5 million.

The bank, which is the U.S. export-credit agency, has put out requests for candidates who would advise the bank on how to “maximize recovery on its loan by finding a strategic buyer of the company assets,” the bank said. “The recent initiation of this process reflects ExIm Chairman Kimberly Reed’s . . .

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