Eutelsat: launches bond buyback offer

(CercleFinance.com) - Eutelsat announces its intention to issue euro-denominated senior fixed-rate bonds maturing in 2029, subject to market conditions, and the launch of a tender offer for existing E800m 2.
00% bonds, maturing in 2025.

The satellite operator plans to use the gross proceeds of the offer, and part of its cash position, to redeem the existing bonds, the aim of these operations being, among other things, to proactively manage its debt and optimize its bond maturities.

Eutelsat will enter into an agreement for a new revolving credit line for E450m (which may be increased up to E500m) upon completion of the offer, and will cancel its existing revolving credit lines.


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