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.

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