Eutelsat €800m term loan and revolving credit facility refinancing (2015)
Refinance early the €800m holding company term loan due December 2016, with €200m repaid from cash; saves about €15m a year in financial charges
Key terms
- Borrower or issuer
- Eutelsat
- Date
- 1 Apr 2015
- Type
- Bank facility
- Amount
- €800m (US$888m)
- Pricing
- EURIBOR + margin linked to Eutelsat Communications' S&P rating
- Maturity
- 2020-03
Recorded terms
- Structure
- New €600m term loan to March 2020 (two one-year extension options) and a renegotiated five-year €200m revolving credit facility at Eutelsat Communications S.A.
- Lenders and arrangers
- The Bank of Tokyo-Mitsubishi UFJ, Crédit Agricole Corporate and Investment Bank, HSBC France, Intesa Sanpaolo and Société Générale Corporate & Investment Banking, mandated lead arrangers and bookrunners; Mizuho Bank, Landesbank Hessen-Thüringen Girozentrale and Sumitomo Mitsui Banking Corporation Europe, mandated lead arrangers; Crédit Agricole Corporate and Investment Bank, facility agent
- Country
- France
Parties
- Eutelsat borrower or issuer
- Lenders: HSBC, Credit Agricole CIB, Societe Generale, Mizuho, MUFG, SMBC Nikko, Helaba, Intesa Sanpaolo
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 24 May 2016 | Viasat US$800m revolving credit facility (2016 amendment) | Bank facility | US$800m |
| 17 Nov 2016 | Telesat US$2.63bn senior secured credit facilities (2016) | Bank facility | US$2.63bn |
| 22 Dec 2016 | DigitalGlobe US$1,475m senior secured credit facilities (2016) | Bank facility | US$1.48bn |
| 18 Dec 2017 | ORBCOMM US$25m senior secured revolving credit facility | Bank facility | US$25m |
| 19 Dec 2018 | SES €400m multi-tranche Schuldschein loan | Bank facility | €400m |
More from Eutelsat
| Date | Financing | Type | Amount |
|---|---|---|---|
| 5 Mar 2026 | Eutelsat €1.5bn senior notes (5.75% 2031 and 6.25% 2033) | Bond | €1.5bn |
| 11 Feb 2026 | Eutelsat export credit financing for OneWeb LEO satellites | Export credit | €975m |
| 25 Nov 2025 | Eutelsat €900m senior facilities (€400m term loan and €500m RCF) | Bank facility | €900m |
| 27 Mar 2024 | Eutelsat €600m senior notes due 2029 | Bond | €600m |
| 7 Oct 2020 | Eutelsat €600m 1.5% bond due 2028 | Bond | €600m |
| 6 Jun 2019 | Eutelsat €600m 2.25% bond due 2027 | Bond | €600m |
M&A and investment involving Eutelsat
| Date | Deal | Type | Value |
|---|---|---|---|
| 12 Dec 2025 | Eutelsat €670m rights issue | Equity raise | €669.8m |
| 21 Nov 2025 | Eutelsat €828m reserved capital increase | Equity raise | €828m |
| 28 Sep 2023 | Eutelsat and OneWeb combination | M&A | Not disclosed |
Sources
- Eutelsat Communications press release: successful refinancing of term loan mynewsdesk.com · 1 Apr 2015
About this record
Record ORB-2015-0002, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
A revolving or term facility is a relationship loan from a bank group, priced at a margin over a reference rate, with financial covenants and an agent.
