Spanish Banks Fund €31 Million for PLD Space's MIURA 5 Project
Summary
This landmark agreement also sees participation from the Instituto de Cr\xe9dito Oficial (ICO) and is backed by Cesces Strategic Investments Policy with legal support from Deloitte and Watson Farley & Williams.The funds are earmarked for the MIURA 5 space launcher programme. With this financial injection, PLD Space aims to conduct the first launch of MIURA 5 by the end of 2025 and start commercial operations several months later in 2026.Behind the Deal: Key Players and Their RolesBanco Santander and EBN Banco have jointly led this syndicated loan with significant contribution from the ICO. The deal sees Cesce offering coverage on behalf of the state, emphasising the importance of the project in enhancing Spains technological capabilities and international competitiveness.Voices from the Financial SectorItziar Letamendi, Global Head of Growth Debt at Banco Santander, shared enthusiasm for the project, stating that MIURA 5 reflects the technological prowess of Spanish companies. Rafael G\xf3mez Perezagua, Chairman of EBN Banco, echoed similar sentiments, emphasising the strategic relevance of the MIURA 5 project and its alignment with EBN Bancos philosophy of tailored investment banking.Jos\xe9 Carlos Garc\xeda de Quevedo, Chairman of ICO, stressed the importance of this loan, noting it fits well within the framework of the Recovery, Transformation, and Resilience Plan. With its headquarters in Elche, Alicante, and technical facilities in Teruel, Huelva, and French Guiana, PLD Space stands as a vital player in small satellite deployment.