Edition:
United Kingdom

Eutelsat Announces 7-Year Bond Issuance


Tuesday, 25 Sep 2018 

Sept 25 (Reuters) - EUTELSAT COMMUNICATIONS SA ::ANNOUNCES SUCCESSFUL 7-YEAR BOND ISSUANCE.BONDS WILL BE ISSUED AT 99.400 PERCENT AND, AT MATURITY, WILL BE REDEEMED AT 100 PERCENT OF THEIR PRINCIPAL AMOUNT AT MATURITY.ANNOUNCED SUCCESSFUL ISSUE BY EUTELSAT S.A. OF 7-YEAR SENIOR UNSECURED BONDS FOR €800 MILLION..THEY WILL HAVE COUPON OF 2.000 PER CENT PER ANNUM AND WILL BE CLEARED THROUGH EUROCLEAR FRANCE, CLEARSTREAM AND EUROCLEAR.BONDS WILL MATURE ON 2 OCTOBER 2025..TRANSACTION WILL FURTHER REDUCE PRE-TAX CASH INTEREST BY SOME €24 MILLION ON AN ANNUALIZED BASIS FROM FY 2019-20.EUTELSAT - TRANSACTION IS EXPECTED TO CONTRIBUTE TO MAXIMIZE DISCRETIONARY FREE-CASH-FLOW.