NEW YORK -- Bankers Trust New York Corp. has arranged a $125 million loan to enable an Indonesian company to buy two telecommunications satellites.

The loan is being provided by the Export Import Bank of the U.S., or Eximbank, and Indonesia's Bank Ekspor Impor Indonesia.

Bankers Trust said it was the first "significant" Ex-Im bank financing to an Indonesian borrower without the requirement of a sovereign guarantee.

Bankers Trust said in a press release that the two Palapa C satellites being purchased in this transaction are Hughes' latest generation of satellites and will be used to replace Indonesia's current satellite system, which was also supplied by Hughes.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.