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Eutelsat Communications — Capital/Financing Update 2013
Nov 28, 2013
1313_iss_2013-11-28_f1cbab3a-84b1-4256-b096-d24ece039aa4.pdf
Capital/Financing Update
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Eutelsat update on Satmex acquisition financing
Paris, 28 November 2013 — Eutelsat S.A., rated BBB (negative outlook) by Standard & Poor's and Baa2 (credit watch negative) by Moody's Investors Service (Moody's), the operating company of Eutelsat Communications, has mandated Banca IMI, Crédit Agricole CIB, Mitsubishi UFJ Securities and Société Générale Corporate & Investment Banking to arrange a series of fixed income investor meetings starting December 4. Subject to market conditions, a senior unsecured euro denominated bond issue may follow in view of the funding requirements in connection with the acquisition of Satmex, which will be fully debt-financed.
As a reminder, on 1 August, following the announcement by the Group of the acquisition of Satmex, Moody's has put Eutelsat S.A.'s issuer Baa2 rating and Eutelsat Communications' senior unsecured bank credit facility Baa3 rating under review. Moody's indicated that the Satmex acquisition could result in a downgrade of the credit ratings by a notch, depending on the ultimate structure of the transaction.
About Eutelsat Communications
With capacity commercialised on 31 satellites delivering reach of Europe, the Middle East, Africa, Asia, significant parts of the Americas and the Asia-Pacific, Eutelsat Communications (Euronext Paris: ETL, ISIN code: FR0010221234) is one of the world's leading satellite operators. As of 30 September 2013, Eutelsat's satellites were broadcasting more than 4,700 television channels to over 200 million cable and satellite homes in Europe, the Middle East and Africa. The Group's satellites also provide a wide range of services for TV contribution, corporate networks and fixed and mobile broadband markets. Headquartered in Paris, Eutelsat and its subsidiaries employ over 780 commercial, technical and operational professionals from 30 countries. www.eutelsat.com
Press
| Vanessa O'Connor | Tel: + 33 1 53 98 37 91 | [email protected] |
|---|---|---|
| Frédérique Gautier | Tel: + 33 1 53 98 37 91 | [email protected] |
| Marie-Sophie Ecuer | Tel: + 33 1 53 98 37 91 | [email protected] |
| Investors and analysts | ||
| Leonard Wapler | Tel. : +33 1 53 98 35 30 | [email protected] |
| Cédric Pugni | Tel. : +33 1 53 98 35 30 | [email protected] |