Eutelsat Announces €1.35bn Capital Raise

European satellite operator Eutelsat this week announced a €1.35 billion ($1.55bn) contemplated capital raise, anchored by key shareholders, to “secure the execution of [its] long-term strategic vision,” to fuel its Low Earth Orbit (LEO) ambitions, led by the French government.

“This capital increase would represent a pivotal step in Eutelsat’s strategic and financing roadmap, enabling the execution of its strategic vision,” Eutelsat said. “Coupled with a dedicated debt refinancing plan, this capital increase will reinforce the Company’s financial flexibility by accelerating its deleveraging and support investment in its existing LEO capabilities and the future IRIS² constellation.”

Jean-François Fallacher, CEO of Eutelsat Group, said: “Eutelsat enters a new chapter, centered on the deployment of LEO, a major innovative and technological revolution for the Satellite industry. Thanks to its differentiated GEO-LEO positioning and global coverage, Eutelsat is ready to become a central player in the development of the European sovereign space of tomorrow.”

He continued: “I welcome the contemplated capital increase, which will give Eutelsat the requisite financing to implement its strategic roadmap. I am grateful for the support of the French State and the ongoing commitment of our other anchor shareholders – Bharti, CMA CGM, and FSP and thank them for their confidence.”