**Summary**
Eutelsat Communications S.A. announced on February 23, 2026, the launch of a €1.5 billion offering of senior notes, comprising two tranches due in 2031 and 2033. The notes will be guaranteed by Eutelsat S.A. and OneWeb Holdings Limited, with completion subject to market conditions. The proceeds, along with a €400 million credit facility, will be used to
1. Redeem Eutelsat S.A.’s €600 million 2.25% notes due 2027 and €600 million 9.750% notes due 2029.
2. Repay and cancel a term loan and revolving credit facility from 2021.
3. Cover fees, expenses, and accrued interest related to the transactions.
4. Fund cash reserves on the balance sheet.
The offering is restricted to non-U.S. persons outside the United States under Regulation S and to qualified institutional buyers in the U.S. under Rule 144A. The notes are not intended for retail investors in the European Economic Area (EEA) or the United Kingdom. The announcement complies with EU market abuse regulations and includes forward-looking statements, with no obligation to update unless required by law.