Astroscale secures JPY 3 billion revolving credit line with MUFG Bank
Astroscale Holdings Inc., the market leader in satellite servicing and long-term orbital sustainability across all orbits, has secured a revolving credit line of JPY 3 billion (approx. USD 22 million) with MUFG Bank, Ltd. This new funding source will enable the company to expand its business operations while maintaining financial stability, adding flexibility, and strengthening its financial base.
The new credit line follows a recent loan from Mizuho Bank, Ltd. and brings Astroscale's cumulative debt raised to a total of JPY 14 billion (approx. USD 106 million). Astroscale also signed a 3-year term loan agreement totaling JPY 5 billion (approx. USD 35 million) with MUFG Bank in September 2022.
"MUFG Bank has been a very strong supporter and partner of Astroscale's vision and mission, and we look forward to leveraging these resources to achieve our long-term strategic goals and continue to establish ourselves as leaders in our industry," said Nobu Okada, Founder and CEO of Astroscale.