Eutelsat completes $5.8 billion refinancing plan

TAMPA, Fla. — Eutelsat has completed the last step in a 5 billion euro ($5.8 billion) refinancing plan to refresh its OneWeb low Earth orbit (LEO) broadband constellation and support Europe's IRIS² sovereign connectivity program, the French satellite operator announced March 6.

The financing package comes weeks after a sale of passive ground infrastructure fell through, eliminating roughly 550 million euros Eutelsat had expected to raise, though the company said the setback would not affect its ability to fund its growth strategy.

"With this strengthened financial foundation, Eutelsat is well positioned to accelerate the deployment of its multi-orbit strategy, support the future European IRIS² constellation, and reinforce its position as Europe's leading provider of space connectivity," he said in a statement.