TAMPA, Fla. — Asset-financing specialist SLI plans to buy two small geostationary satellites from two-year-old U.S. startup AscendArc in a deal valued at more than $200 million, betting that operators will increasingly choose to lease spacecraft rather than buy them outright.

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Jason Rainbow writes about satellite telecom, finance and commercial markets for SpaceNews. He has spent more than a decade covering the global space industry as a business journalist. Previously, he was Group Editor-in-Chief for Finance Information Group,...