Follow Eutelsat Corporate

Eutelsat announces successful 7-year bond issuance

Press release   •   Sep 25, 2018 19:09 CEST

Launch and pricing by Eutelsat S.A. of a €800 million 2.000% percent Eurobond due 2025 to refinance January 2019 Bond. Positive impact of approximately €24 million per annum on financial charges contributing to Free-Cash-Flow maximization.

Paris, 25 September 2018 - Eutelsat Communications (Euronext Paris: ETL) today announced the successful issue by Eutelsat S.A. of 7-year senior unsecured bonds (the “Bonds”) for a total of €800 million.

Eutelsat has taken advantage of the current competitive market environment to raise long-term financing with a 7-year maturity at attractive conditions. The transaction was well received by a diversified investor base and was over-subscribed, demonstrating the market’s confidence in Eutelsat’s long-term business model.

The Bonds will be issued at 99.400 per cent and, at maturity, will be redeemed at 100 per cent of their principal amount at maturity. They will have a coupon of 2.000 per cent per annum and will be cleared through Euroclear France, Clearstream and Euroclear. An application will be 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 2 October 2025. Delivery and settlement are expected on or around 2 October 2018.

The Bonds will enable Eutelsat S.A. to redeem at maturity the outstanding bonds issued on 14 December 2011 for a total principal amount of €800 million, bearing interest on its principal amount at a fixed rate of 5.000 per cent per annum and due January 2019.

This transaction is expected to contribute to maximize Discretionary Free-Cash-Flow and will further reduce pre-tax cash interest by some €24 million on an annualized basis from FY 2019-20, following the €31 million reduction of this item recorded between FY 2015-16 and FY 2017-18. Furthermore, this operation will allow Eutelsat to extend its debt maturity profile.

Global Coordinators: Société Générale, Crédit Agricole Corporate and Investment Bank

Joint-bookrunners: HSBC Bank plc, Mizuho International plc and MUFG Securities EMEA plc

Co-lead manager:Landesbank Hessen-Thüringen Girozentrale

About the Bonds:

Issuer: Eutelsat S.A.

Amount: €800 million

Coupon: 2.000 per cent

Maturity: 2 October 2025

Settlement Date: 2 October 2018

Market: Official List and Regulated Market of the Luxembourg Stock Exchange

About Eutelsat Communications

Founded in 1977, Eutelsat Communications is one of the world's leading satellite operators. With a global fleet of satellites and associated ground infrastructure, Eutelsat enables clients across Video, Data, Government, Fixed and Mobile Broadband markets to communicate effectively to their customers, irrespective of their location. Over 6,900 television channels operated by leading media groups are broadcast by Eutelsat to one billion viewers equipped for DTH reception or connected to terrestrial networks. Headquartered in Paris, with offices and teleports around the globe, Eutelsat assembles 1,000 men and women from 46 countries who are dedicated to delivering the highest quality of service.

Eutelsat Communications is listed on the Euronext Paris Stock Exchange (ticker: ETL).

For more about Eutelsat go to

Marie-Sophie Ecuer Tel: + 33 1 53 98 37 91

Jessica Whyte  Tel: + 33 1 53 98 37 91

Investors and analysts
Joanna Darlington Tel. : +33 1 53 98 35 30

Cédric Pugni Tel. : +33 1 53 98 35 30

Not for distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes are required to inform themselves about and to observe any such restrictions.


This announcement does not constitute or form part of an offer or solicitation of an offer to purchase or subscribe for securities in France. This document shall not be construed as an offer to the public as defined under article L.411-1 of the French Code monétaire et financier, to the extent that the Bonds will have a denomination of €100,000 and will only be offered to (i) providers of investment services relating to portfolio management for the account of third parties (personnes fournissant le service d'investissement de gestion de portefeuille pour compte de tiers), and/or (ii) qualified investors (investisseurs qualifiés) acting for their own account as defined in, and in accordance with Articles L. 411-1, L.411-2 and D.411-1 of the French Code monétaire et financier.

United States

Neither this document nor any copy of it may be taken, transmitted or distributed, directly or indirectly, in or into the United States its territories or possessions or to any US person (as defined in Regulation S under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”)). This document does not constitute or form part of any offer or solicitation of an offer to purchase or subscribe for securities in the United States. The Bonds may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act The Bonds have not been and will not be registered under the U.S. Securities Act and Eutelsat S.A. does not intend to make a public offer of the Bonds in the United States. Any failure to comply with these restrictions may constitute a violation of United States securities law and other applicable laws.

United Kingdom

This document is distributed only to, and is directed only at persons who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 , as amended (the "Order"), (ii) fall within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.") of the Order, or (iii) are outside the United Kingdom and to whom it may otherwise lawfully be communicated, (all such persons together being referred to as "relevant persons"). Neither this document nor any of its contents must be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this document relates is available to relevant persons only and will be engaged in only with relevant persons.


The offering of the Bonds has not been registered pursuant to Italian securities legislation and this document shall not be distributed in the Republic of Italy (Italy) except (i) to qualified investors (investitori qualificati), pursuant to Article 100 of Legislative Decree No. 58 of 24 February 1998 (the Consolidated Financial Services Act) and Article 34-ter, paragraph 1, letter (b) of CONSOB regulation No. 11971 of 14 May 1999 (the CONSOB Regulation), all as amended and restated from time to time or (ii) in any other circumstances where an express exemption from compliance with the restrictions on offers to the public applies, as provided under Article 100 of the Consolidated Financial Services Act and Article 34-ter of the CONSOB Regulation No. 11971, in each case in compliance with Italian law and regulations or requirement imposed by CONSOB or any other Italian authority.

This announcement may include projections and other “forward-looking” statements within the meaning of applicable securities laws. Any such projections or statements reflect the current views of Eutelsat Communications or its subsidiaries about further events and financial performance. No assurance can be given that such events or performance will occur as projected and actual results may differ materially from these projections.

Follow us at:

Eutelsat on Twitter  Eutelsat on Facebook  Eutelsat on LinkedIn  Eutelsat on Youtube  Eutelsat on Flickr  Google+

Attached Files

PDF document