Eutelsat to gain €600MN in bond issue | Media Investment | Business
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In the latest part of its ongoing refinancing programme, leading satellite operator Eutelsat has revealed that its issue of eight-year senior unsecured bonds has been successful raising a total of €600 million.
eutelsat 10August2018
Since the start of its 2018-19 financial year the company has taken a number of measures to maximise cash generation and previously issued an €800 million 2.0% Eurobond with a seven-year maturity bearing a 5.0% coupon maturing in January 2019.

With the new bond, Eutelsat believes that it has taken advantage of the current competitive market environment to raise long-term financing with an eight-year maturity on attractive terms. It asserted that the transaction was well received by a diversified investor base, demonstrating the market’s confidence in Eutelsat’s long-term business model.

The €600 million 2.25% bonds will mature on 13 July 2027 with delivery and settlement are expected on or around 13 June 2019. They will refinance bonds due in January 2020 and they are expected to have a positive impact of approximately €10 million per annum on cash interest contributing to Eutelsat’s free cash-flow maximisation.