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Eutelsat Communications ( (FR:ETL) ) has provided an update.
Eutelsat Communications has successfully priced a €1.5 billion senior notes offering split between €850 million notes due 2031 with a 5.75% coupon and €650 million notes due 2033 with a 6.25% coupon, both issued at par and guaranteed by Eutelsat S.A. and OneWeb Holdings Limited. The placement, aimed at institutional investors in and outside the United States, is expected to close on March 5, 2026, subject to customary conditions.
The company plans to use the proceeds, alongside a new €400 million credit facility, to redeem in full its 2027 and 2029 bond issues, repay and cancel existing bank facilities, cover associated fees and premiums, and bolster its cash position. The transaction is set to refinance higher-cost debt, extend Eutelsat’s maturity profile and streamline its capital structure, reinforcing balance sheet flexibility while excluding retail investors in the EEA and U.K. under current regulatory regimes.
More about Eutelsat Communications
Eutelsat Communications S.A., listed in Paris and London, operates in the satellite communications sector, providing space-based connectivity and broadcasting infrastructure. Its services support data, broadband and video distribution for telecom operators, broadcasters, governments and enterprise customers across global markets, including through its subsidiary Eutelsat S.A. and OneWeb Holdings Limited.
For a thorough assessment of ETL stock, go to TipRanks’ Stock Analysis page.