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Access to the French-backed financing is subject to several conditions, including a bond issuance that would require Eutelsat to raise additional funding from private investors.
Eutelsat's net debt-to-EBITDA ratio was 3.88× in June 2025.
Eutelsat is set to receive almost €1 billion in French government-backed financing to expand its OneWeb broadband constellation.
Eutelsat committed €2 billion as part of the consortium partner share for IRIS2.
Eutelsat completed a €1.5 billion capital raise in late 2025 backed by investors including the UK and French governments.
Eutelsat ordered 100 satellites from Airbus Defence and Space in December 2024 to ensure continuity of its current OneWeb service.
Eutelsat is a core member of SpaceRISE alongside SES and Hispasat.
Amazon Leo is a Low Earth Orbit satellite broadband competitor to SpaceX Starlink and Eutelsat OneWeb targeting consumer, enterprise, and government markets.
Eutelsat's June 2025 investor presentation identified a need for an additional 340 satellites to expand OneWeb availability until IRIS2 is operational in the early 2030s.
Eutelsat estimated the cost of the OneWeb extension at between €2 billion and €2.2 billion.
On 11 February, Eutelsat signed a €975 million financing agreement with the French Export Credit Agency.
Eutelsat will receive a €975 million loan in French export credit financing to fund the Low-Earth Orbit satellites it ordered from Airbus Defence and Space.
MTN’s multi-network portfolio already includes Starlink and Eutelsat OneWeb.
In January, Eutelsat planned to evaluate new business cases for the new satellites, including hosted payloads.
The financing for Eutelsat will be provided by a pool of commercial banks obtained through French export credit agency Bpifrance Assurance Export and backed by the French state.
Airbus Defence and Space will manufacture the satellites for Eutelsat at its facility in Toulouse, France.
Eutelsat intends the new satellites to ensure operational continuity for OneWeb customers as older satellites reach the end of their operational lifetime.
Eutelsat has aggressively automated its fleet operations and planned reductions from more than 50 operators down to five operators to scale mega-constellation management.
The loan to Eutelsat is subject to several conditions, including a bond issuance at Eutelsat Communications.
France increased its stake in Eutelsat last year to 29.65%, becoming the company's largest single shareholder.