Satellite operator Eutelsat has announced the refinancing of its existing €1,765 million credit facilities which were due in June 2013.
The refinancing will take place through the issuance of seven-year senior unsecured bonds for a total of €800 million by Eutelsat, and a new five-year bullet senior unsecured term loan for €700 million and senior unsecured revolving credit facility granted to the operator in a maximum amount of €200 million, both maturing in December 2016.
Catherine Guillouard, Eutelsat’s chief financial officer, said: “The market’s positive response to Eutelsat’s bond issue and new credit facilities confirm the strength of our unique business model, which sits at the heart of the digital revolution, and combines growth, profitability and visibility over the long term. With this overall refinancing of the Eutelsat Communications existing indebtedness, our group will have all the flexibility to continue its long-term strategy, reinforcing its leadership in markets where digital broadcasting and broadband services are experiencing rapid growth.”
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