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05/05/2010 / FRANCE / DEBT & CREDIT MARKETS
Crédit Agricole CIB lead arranger for the refinancing of Eutelsat's credit lines
Crédit Agricole CIB acted as the lead arranger and bookrunner for Eutelsat in its inaugural 7-year EUR 850 million bond issue and a 5-year revolving loan of EUR 450 million used to refinance its existing credit lines.
Crédit Agricole CIB acted alongside BNP Paribas, Société Générale CIB and Royal Bank of Scotland.
This issue, the first launched by Eutelsat, met with tremendous success and was oversubscribed 4.5 times. The proceeds of this financing were used to repay debts of EUR 1.3 billion and enabled Eutelsat to extend its debt’s average maturity to 5.3 years from 2.7 years as of December 2009.
Eutelsat is the leading European operator and one of the top three fixed-service satellite operators worldwide.