Eutelsat to Raise €1.5 Billion in Senior Notes to Refinance Debt and Reshape Capital Structure

The latest announcement is out from Eutelsat Communications ( (FR:ETL) ).

Eutelsat Communications has launched an offering of €1.5 billion in new euro-denominated senior notes, split between maturities in 2031 and 2033, to be guaranteed by Eutelsat S.A. and OneWeb Holdings Limited. The notes will be placed with institutional and professional investors under Regulation S and Rule 144A, with no retail distribution planned in the EEA or the U.K.

The company plans to use the proceeds, together with €400 million from a new credit facility, to fully redeem its €600 million notes due 2027, redeem €600 million high-yield notes due 2029, repay and cancel existing term loan and revolving credit lines, cover related fees and accrued interest, and add cash to its balance sheet. The transactions, which remain subject to market conditions, are aimed at reshaping Eutelsat’s debt profile and strengthening its financing structure without conducting a public equity raise.

More about Eutelsat Communications

Eutelsat Communications is a France-based satellite communications company listed on Euronext Paris and the London Stock Exchange. The group operates through Eutelsat S.A. and OneWeb Holdings Limited, providing connectivity and broadcasting services to customers in Europe and globally.

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