Eutelsat locks in $66M TV deal and secures credit upgrades ahead of €670M capital raise
Eutelsat has secured a major five-year contract with beIN Media Group, ensuring its premium sports and breaking news services reach 66 million TV households. The deal also strengthens the company’s position at the 7/8° West orbital slot. Meanwhile, recent upgrades from Moody’s and Fitch have boosted Eutelsat’s financial standing.
On December 2, 2025, Moody’s raised Eutelsat’s long-term corporate rating from B2 to Ba3. The agency highlighted the company’s status as a Government-Related Issuer and anticipated improvements in debt metrics. A day later, Fitch followed with an upgrade to BB, keeping a stable outlook.
Eutelsat is also advancing a €670 million capital increase, with the subscription period ending on December 9, 2025. Shareholders can buy new shares at €1.35 each, with an 11:8 subscription ratio. The company will announce final subscription results on December 12, with new shares issued by December 16.
Major shareholders have already committed to 71% of the second tranche’s volume. The French state (via Bpifrance), Bharti Space, the British government, and CMA CGM pledged around €475 million, securing roughly 70% of the tranche. Eutelsat aims for €1.5–1.7 billion in revenue by fiscal 2028–29, targeting an EBITDA margin of at least 60%.
The new beIN Media Group contract and credit upgrades reinforce Eutelsat’s market position. With strong shareholder support for its capital increase, the company is on track to meet its financial targets. Final subscription details will be confirmed by mid-December.
