Eutelsat issues €600m on quiet day, pays 15bp NIP
Eutelsat, the Baa3/BBB- rated satellite company, launched a benchmark eight year euro bond on Thursday, into a market kept empty by the European Central Bank's press conference. Bilfinger and Cabot were the only other corporate issuers.
The deal will be used to refinance debt. Eutelsat has five bonds outstanding, the closest to maturity being a €930m note due in January 2022.
Eutelsat last issued in September, when it sold an €800m seven year note at 140bp over mid-swaps and a yield of 2.093%.Lead managers Banca ...
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