Eutelsat Secures Funding for Its OneWeb LEO Constellation
Eutelsat announces securing funding of approximately 1 billion euros from the French Export Credit Agency to finance the order of low-earth orbit satellites for its OneWeb constellation. This funding is part of a broader refinancing plan for the operator.
Financing Details
The funding, provided by a consortium of private banks and backed by a French government guarantee through Bpifrance Assurance Export, supports the order of 340 LEO satellites from Airbus Defence and Space. These new satellites will join the 100 satellites already ordered and will be constructed at Airbus's facilities in Toulouse. According to Eutelsat, these satellites will ensure service continuity for customers of the OneWeb low-earth orbit constellation by gradually replacing the satellites currently in service as they reach the end of their operational lifespan. The disbursement of the funding remains subject to several conditions, including a bond issuance by Eutelsat Communications.
Roles and Advisors
Societe Generale served as the sole global coordinator, sole underwriter, and mandated lead arranger, alongside Commerzbank Aktiengesellschaft, Credit Agricole Corporate and Investment Bank, ING Bank N.V, and Helaba - Landesbank Hessen-Thüringen. Rothschild & Cie advised Eutelsat on financial matters, while Latham & Watkins LLP provided legal counsel to the operator. De Pardieu Brocas Maffei advised the lending banks' consortium.
