Eutelsat S.A. Announces the Success of Its Offering of €600 Million Senior Notes Due 2029

Regulatory News:

Eutelsat S.A. (Paris:ETL) (LSE:ETL) (the “Company”) announced today the success of its offering (the “Offering”) of €600 million in aggregate principal amount of senior notes due 2029 (the “New Notes”).

The New Notes will bear interest at an annual rate of 9.750% and will be issued at a price of 100% of their par value.

The Company intends to use the gross proceeds from the Offering, together with cash on hand, to (i) fund the repurchase of its €800 million 2.00% bonds due 2025 (ISIN: FR0013369493) (the “Existing Notes”) in its previously announced tender offer (the “Tender Offer”, and together with the Offering, the “Transactions”) (ii) redeem the remaining Existing Notes at their principal amount on the maturity date of the Existing Notes and (iii) pay the fees and expenses in connection with the Transactions.

The issuance of the New Notes and the settlement of the Tender Offer are expected to take place on April 8, 2024, subject to customary conditions.

Important notice

This press release constitutes a public disclosure of inside information under Regulation (EU) 596/2014 (16 April 2014) and Implementing Regulation (EU) No 2016/1055 (10 June 2016).

The New Notes will be offered to only to non-U.S. persons in offshore transactions outside the United States pursuant to Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”) and in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act, subject to prevailing market and other conditions. The Tender Offer is being made only to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. There is no assurance that the Transactions will be completed or, if completed, as to the terms on which it is completed. The New Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or unless pursuant to an applicable exemption from the registration requirements of the Securities Act and any other applicable securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.