Eutelsat has completed the closing of a €1.5 billion bond offering, marking the final stage of a wider refinancing programme worth around €5 billion.
The satellite operator said the senior notes offering, which closed on 5 March, completes a financing strategy combining equity and debt and backed by its main shareholders. The package is intended to support the group’s long-term plans for low earth orbit satellite operations, while also improving financial flexibility and speeding up debt reduction.
Eutelsat said the equity raise contributed to ratings upgrades from Moody’s and Fitch, improving its ability to access debt capital markets and export credit financing.
Alongside the equity injection, the company put in place a broader debt financing plan intended to cover its medium-term investment programme, including around €4 billion between 2026 and 2029.
The completion of the bond issuance was the final condition required for its senior facilities agreement, export credit agency financing and EIB transaction to become effective, concluding a multi-stage capital structure reorganisation launched in 2025.
Chief financial officer Sebastien Rouge said the completion of the financing plan marked a decisive turning point in the group’s transformation.
He added the stronger financial base would allow Eutelsat to accelerate its multi-orbit strategy, support the future European IRIS² constellation and strengthen its position in space connectivity
