Eutelsat announces successful new 10-year bond issuance

Pascale Paoli-Lebailly | 02-10-2012

Eutelsat Communications has announced the successful new issuance by its parent body of 10-year senior unsecured bonds for a total of €300 million.

According to the satellite communications firm, the order book for the Bonds reached more than €1.5 billion, “demonstrating the market's confidence in the long term business model of the Eutelsat Group”.

The Bonds will be issued at 99.148 % and redeemed at 100 per cent of their principal amount and will have a coupon of 3.125% per annum. Application has been made for the Bonds to be listed on the Official List and admitted to trading on the regulated market of the Luxembourg Stock Exchange. The Bonds will mature on the 10th anniversary of their issue. Their delivery and settlement are expected to occur on 9 October 2012.

As a result of this new financing, the Eutelsat Communications Group will extend the weighted maturity of its financing from 5.2 years at 30 June 2012 to 5.5 years today. The Company was able to take advantage of the very competitive current market environment to raise long-term financing with a 10-year maturity at attractive conditions.