Eutelsat funds €930m takeover with one bond

Eutelsat, the French satellite operator, brought its roadshow last week to fruition on Monday with a heavily oversubscribed bond issue that enabled it to raise €930m, the full amount it needed for its acquisition of Satelitos Mexicanos (Satmex).

  • By Jon Hay
  • 13 Dec 2013

“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 on Monday morning to €3.3bn, before the leads announced formal ...

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5 HSBC 16,474.81 91 5.19%

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5 Morgan Stanley 12,977.13 92 6.53%

Bookrunners of European Corporate IG Bonds

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1 HSBC 28,288.85 117 5.99%
2 BNP Paribas 27,457.09 117 5.81%
3 Barclays 26,271.31 92 5.56%
4 JPMorgan 26,099.31 90 5.52%
5 Deutsche Bank 24,766.67 100 5.24%