Audacy has received an official Letter of Interest from the Export-Import Bank of the United States (“Ex-Im Bank” or “Ex-Im”) to fund the manufacture of our satellite constellation for up to $510 million. In addition to our valued venture partners, debt financing is an important component in developing Audacy’s game changing space communications platform, and we are thrilled by this latest vote of confidence from such a highly reputable source.
The Export-Import Bank of the United States (EXIM) is the official export credit agency of the United States. EXIM is an independent, self-sustaining Executive Branch agency with a mission of supporting American jobs by facilitating the export of U.S. goods and services. Because it is backed by the full faith and credit of the United States, EXIM assumes credit and country risks beyond private lending institutions, in support of US leadership and economic goals. The Bank’s charter requires that all transactions it authorizes demonstrate a reasonable assurance of repayment, consistently maintains a low default rate, and closely monitors credit and other risks in its portfolio.