Eutelsat secures refinancing of debt

Satellite operator Eutelsat has secured early refinancing of an €800 million loan due in December 2016 from a pool of nine banks. 

Eutelsat  has arranged a new term loan of €600 million, expiring in March 2020, with two possible extension facilities of one year each subject to lender agreement, and has made a €200 million early reimbursement using its cash reserves.

Separately, Eutelsat has renegotiated a revolving credit facility of 200 million euros for a duration of five years with two possible extension facilities of one year each subject to lender agreement, replacing the previous facility of the same amount, expiring in December 2016.