Tab 08 · Structured Finance

Mission Financeability · Cost of Capital Range · Expected Loss · Rate Bridge

Standardized financial outputs flow from the Orbital Map into SFC deal readiness, the LSA finance model, and the Falcon 9 cohort builder. The target institutional band of 8–10% is an outcome METIS works toward through risk transparency, standardized valuation, insurance integration, and reduced uncertainty — not a guarantee.

Section · A

Institutional Financial Outputs

No asset selected — demo GEO mission

Select an asset →

Mission Financeability Score

MOCK

Watchlist

Confidence 78% · v1.0.0

Not Fin.DistressedWatchlistFinanceableInst. Grade

Top Drivers

Probability of Default89
Durability (EFI · REL · FAV)87
Consensus Confidence76
Environmental + Debris Exposure70

Negative Factors

Valuation Strength (SASV / FAV)24
Loss Given Default47

Cost of Capital Range

MOCK

Low

8.00%

Expected

8.00%

High

9.81%

10%

15%

Target Institutional Band 8%–10%Confidence 76% · width 1.81%

METIS aims to compress financing costs from approximately 15% venture-style risk to 8–10% institutional infrastructure-style capital through risk transparency, standardized valuation, insurance integration, and reduced uncertainty.This is a target outcome, not a guarantee.

Expected Loss

MOCK

Expected Loss = PD × LGD × EAD

3.40%×62.0%×$106.40M=$2.24M

PD (term)

3.40%

48-mo horizon

LGD

62.0%

Severity

Debt Capacity (EAD)

$106.40M

Debt Capacity = SASV × 0.7

Expected Loss

$2.24M

2.11% of EAD

Confidence in PD/LGD inputs76%

Rate Bridge · Waterfall Decomposition

MOCK

Rate = Risk-Free + Liquidity + Expected Loss + Capital Charge + Servicing − Risk Credits

MODELEDRisk-Free Rate

+4.50%

MODELEDLiquidity Premium

+1.20%

CONSENSUSExpected Loss Rate

+2.11%

MODELEDCapital Charge

+1.80%

MODELEDServicing Margin

+0.80%

CONSENSUSRisk Credits

−3.30%

MOCKExpected Cost of Capital

8.00%

Green band marks the 8%–10% institutional target outcome — not a guarantee. Risk Credits scale with insurance coverage, consensus data confidence, and asset standardization.

Section · B

SFC Deal Readiness

Select a satellite from the Orbital Map to compute SFC readiness.

Section · C

Maneuver-Driven Credit Impact

Select a satellite from the Orbital Map to evaluate maneuver-driven credit impact.

Section · D

LSA Finance Model · $74M default

Structured Finance

LSA Finance Model

MODELED

Total LSA Cost$74.00M

Operator Down Payment10%

SFC Financed70%

Loan Term (mo)48

Interest Rate9.25%

Insurance Credit (rate Δ)1.50%

PD8.5%

LGD55%

Warrants

Equity Guarantee

Decision

Approved

Implied Rate 8.00%

SFC Funded

$51.80M

Operator Down

$7.40M

Operator Final

$14.80M

Monthly Payment

$1.26M

Total P&I

$60.70M

Expected Loss

$2.42M

Insurance-Adj. EL

$1.33M

Section · E

Cost of Capital Calculator · Component Detail

METIS · Structured Finance

Cost of Capital Calculator

MODELED

Capital Stack

Risk-Free Rate4.50%

Liquidity Premium1.20%

Servicing Margin0.80%

Capital Charge1.80%

Credit Inputs

PD (term)8.5%

LGD55%

EAD$7.50M

Loan Term48 mo

METIS Credits

Prometheus Insurance Credit1.50%

Data Confidence Credit1.00%

Standardization Credit0.80%

Institutional Subsidy / Government Backstop Scenario

Expected Loss

$350.6K

4.68% of EAD

Implied Loan Rate

9.68%

Δ Target +1.68% · Δ Legacy −5.32%

15% Legacy Debt8% Institutional Target

15.0%9.68%8.0%

Rate Bridge · Legacy → METIS

─── 8% Target

8.0%

Legacy Rate

15.00%

Data Confidence

−1.00%

Standardization

−0.80%

Prometheus Insurance

−1.50%

Expected Loss

+4.68%

Capital Charge

+1.80%

Servicing

+0.80%

Liquidity Prem.

+1.20%

Risk-Free

−10.50%

METIS Implied

9.68%

8% is not guaranteed. METIS moves the mission toward institutional pricing when data confidence, asset standardization, Prometheus insurance credit, and default risk improve.

Funding Likelihood

High

Low

0–39

Moderate

40–59

High

60–79

Institutional

80+

Section · F

Falcon 9 Cohort Builder

Structured Finance

Falcon 9 Cohort Builder

Members (5)

F9-Payload-AlphaMOCK

$12.50MPD 7.8%

F9-Payload-BravoMOCK

$11.20MPD 8.2%

F9-Payload-CharlieMOCK

$14.00MPD 7.1%

F9-Payload-DeltaMOCK

$9.80MPD 9.2%

F9-Payload-EchoMOCK

$13.50MPD 7.5%

Pairwise Correlation Matrix

	F9-Paylo	F9-Paylo	F9-Paylo	F9-Paylo	F9-Paylo
F9-Payload-A	100	100	85	80	85
F9-Payload-B	100	100	85	80	85
F9-Payload-C	85	85	100	65	85
F9-Payload-D	80	80	65	100	65
F9-Payload-E	85	85	85	65	100

Total SASV

$61.00M

Total EAD

$42.70M

Weighted PD

7.87%

Weighted LGD

55%

Expected Loss

$3.48M

Implied Rate

10.46%

Correlation Factors

Same Launch100%

Same Orbit100%

Same Operator60%

Same Manufacturer80%

Same Environment80%

Composite89%

Concentration Warnings

High launch concentration — single launch failure could impair the cohort.
Orbit concentration — shared environmental risk (debris, weather, congestion).
Composite correlation risk elevated — apply correlation surcharge to debt pricing.

Section · G

Quick Loan Calculator

METIS · Structured Finance

Loan Pricing Calculator

MODELED

Loan Term

48 mo

Exposure at Default (EAD)

$7.50M

PD (term)MODELED

8.5%

LGDMODELED

55%

Risk-Free

4.50%

Liquidity Prem.

1.20%

Capital Charge

1.80%

Servicing

0.80%

Insurance Credit

1.50%

Expected Loss

MODELED

$350.6K

4.68% of EAD

METIS Loan Rate

MODELED

9.68%

vs Legacy 15.0%

Cost-of-capital savings−532 bps

Rate Comparison

Legacy15.00%

METIS9.68%

METIS reduces cost of capital by improving risk transparency and enabling insurance credit through Prometheus.

Section · H

Institutional Credit Memo

Credit Memo Preview

Select a satellite from the Orbital Map to generate a memo.

These outputs are modeled estimates for underwriting, finance, and insurance workflows. They do not constitute a binding offer of insurance, credit approval, investment advice, or a guarantee of satellite performance, repayment, or recovery.