Eutelsat gets acquisition bond done with €4bn book
Eutelsat, the French satellite operator, brought its roadshow last week to fruition today with a heavily oversubscribed bond issue that enabled it to raise €930m, the full amount it needed for its acquisition of Satelitos Mexicanos (Satmex).
“Eutelsat is one of the weaker credits in the investment grade world but it has a very good following from investors, who like the business,” said a banker.
The book for the Baa3/BBB rated bond built very rapidly this morning to €3.3bn, before the leads announced formal guidance.
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