Eutelsat trims costs of debt
April 14, 2014
By Chris Forrester
Now that Mexico City-based satellite operator SatMex is 100 per cent owned by Eutelsat, the new owners have taken the opportunity to trim SatMex’s debt burden significantly. Now more properly called Eutelsat Americas, the company was obliged to absorb some $350 million of borrowings at the high interest rate of 9.5 per cent.
Eutelsat has now restructured those loans very early (they were not due to be repaid until 2017) by using some of the cash raised last December to but SatMex and which cost Eutelsat just 2.65 per cent.