Eutelsat secures 1 billion euros in financing for OneWeb's satellite procurement

Eutelsat said on Wednesday that it had secured around 1 billion euros ($1.2 billion) in export credit financing to purchase low-Earth orbit satellites for its Oneweb unit. The company said the financing, guaranteed by the French government, would support a contract to buy 340 satellites from Airbus. The financing is subject to several conditions, including Eutelsat issuing bonds. (Sina Finance)