Eutelsat Signs Almost €1bn in Export Credit Agency Financing for the Procurement of LEO Satellites for its OneWeb Constellation

11 Feb 2026 07:30 CET

Regulatory News:

Eutelsat (ISIN: FR0010221234 – Euronext Paris / London Stock Exchange: ETL) (Paris:ETL) (LSE:ETL) announces that it has signed a c. €1bn Export Credit Agency (ECA) financing for the procurement of LEO satellites for its OneWeb constellation.

The financing will be provided by a pool of commercial banks, which will benefit from a French State guarantee, obtained through its export credit agency, Bpifrance Assurance Export for an amount of c.€975m-eq. It will be provided to Eutelsat Communications SA and will rank pari-passu with other debts of that entity.

Its disbursement remains subject to several conditions precedent, including a bond issuance at Eutelsat Communications.

The financing backs the recently announced contract with Airbus Defence and Space for 340 LEO satellites, on top of the 100 already ordered, to be manufactured at Airbus’ Toulouse facility. These satellites will ensure full operational continuity for customers of the OneWeb LEO constellation, by progressively replacing existing satellites as their operational life comes to an end.

Jean-Francois Fallacher, Chief Executive Officer of Eutelsat said: “ We are delighted to secure this crucial aspect of Eutelsat’s refinancing plan. We are grateful to the French State for its unwavering support. This funding significantly strengthens our financial structure and gives us the means to support the deployment of our LEO activities.”

Société Générale acted as Sole Global Coordinator and Sole Bookrunner, and Mandated Lead Arranger (MLA) on this financing together with Commerzbank Aktiengesellschaft, Credit Agricole Corporate and Investment Bank (acting also as Facility Agent), ING Bank N.V and Helaba – Landesbank Hessen-Thüringen.

Rothschild & Cie acted as financial advisor to Eutelsat. Latham & Watkins LLP acted as legal advisor to Eutelsat. De Pardieu Brocas Maffei acted as legal advisor to the lending banks.

About Eutelsat

Eutelsat is a global leader in satellite communications, delivering connectivity and broadcast services worldwide. Eutelsat was formed through the combination of the Company and OneWeb in 2023, becoming the first fully integrated GEO-LEO satellite operator with a fleet of 33 Geostationary (GEO) satellites and a Low Earth Orbit (LEO) constellation of more than 600 satellites. Eutelsat addresses the needs of customers in four key verticals of Video, where it distributes around 6,300 television channels, and the high-growth connectivity markets of Mobile Connectivity, Fixed Connectivity, and Government Services. Eutelsat's unique suite of in-orbit assets and ground infrastructure enables it to deliver integrated solutions to meet the needs of global customers. The Company is headquartered in Paris and Eutelsat employs more than 1,600 people across more than 75 countries. Eutelsat is committed to delivering safe, resilient, and environmentally sustainable connectivity to help bridge the digital divide. The Company is listed on the Euronext Paris Stock Exchange (ticker: ETL) and the London Stock Exchange (ticker: ETL).

Disclaimer

The forward-looking statements included herein are for illustrative purposes only and are based on management’s views and assumptions as of the date of this document.

Such forward-looking statements involve known and unknown risks. For illustrative purposes only, such risks include but are not limited to: risks related to the health crisis; operational risks related to satellite failures or impaired satellite performance, or failure to roll out the deployment plan as planned and within the expected timeframe; risks related to the trend in the satellite telecommunications market resulting from increased competition or technological changes affecting the market; risks related to the international dimension of the Group's customers and activities; risks related to the adoption of international rules on frequency coordination and financial risks related, inter alia, to the financial guarantee granted to the Intergovernmental Organization's closed pension fund, and foreign exchange risk.

Eutelsat Communications expressly disclaims any obligation or undertaking to update or revise any projections, forecasts or estimates contained in this document to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based, unless so required by applicable law.

The information contained in this document is not based on historical facts and should not be construed as a guarantee that the facts or data mentioned will occur. This information is based on data, assumptions and estimates that the Group considers as reasonable.

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