Eutelsat to raise €930 million through bond issue

Satellite operator Eutelsat is due to raise €930 million by issuing six-year unsecured bonds, which are due to mature in 2020.

“The company has been able to take advantage of the very competitive current market environment to raise long-term financing with a six-year maturity at attractive conditions,” Eutelsat said in a statement.

“The transaction was well received by a diversified investor base and was significantly over-subscribed, demonstrating the market’s confidence in Eutelsat’s long-term business model.”

Eutelsat said the bonds will allow it to finance its July-announced acquisition of Satmex.