Eutelsat launches tender offer for 2% senior notes due 2025

By Mary-Katherine Stinson

Lexington, Ky., March 25 – Eutelsat SA has launched a tender offer for any and all its €800 million outstanding 2% senior notes due 2025 (ISIN: FR0013369493), according to a notice.

The company is offering to purchase the notes at 98.

Tendering noteholders who wish to subscribe for new notes may receive priority in the allocation of Eutelsat’s proposed €600 million offering of new five-year senior notes.

To request new notes priority, holders should contact the dealer managers.

The Regulation S offering expires at noon ET on April 3.

Results of the offer, including whether the company will accept for purchase any of the tendered notes subject to satisfaction or waiver of the transaction condition, are to be announced as soon as practicable on April 4.

Settlement is expected for April 8.

The dealer managers of the tender offer are BNP Paribas (+33 1 55 77 78 94, liability.management@bnpparibas.com), Credit Agricole CIB (+44 20 7214 5903, liability.management@ca-cib.com) and Societe Generale (+33 1 42 13 32 40, liability.management@sgcib.com).

The information agent and tender agent will be BNP Paribas Securities Services Business Line (+33 1 40 14 14 30, paris.bp2s.information.agent@bnpparibas.com, paris.bp2s.offers@bnpparibas.com).

Eutelsat is a Paris-based telecommunications company and satellite operator.

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