Europe's media, telecom capital market activity jumps to $2.31B in March

Europe's media and telecommunications sector raised $2.31 billion in March through capital offerings.

The March total represents an increase from the $1.66 billion in capital that the sector raised in February and from $1.91 billion in March 2025, according to S&P Global Market Intelligence data.

The largest share of the media and telecom capital market activity came from debt offerings, while common equity offerings brought in only $2.4 million.

Eutelsat Communications SA raised the highest amount for the sector in March. The French cable and satellite company's issuance of €850 million in senior notes due 2033 was the sector's largest offering of the month. The company also offered €650.0 million in notes due 2031.

Eutelsat plans to use the net proceeds to redeem notes due in 2027 and 2029, as well as to repay loans, related fees and accrued interest.

The underwriters of the offerings included BNP Paribas SA, Crédit Agricole Corporate and Investment Bank SA and Société Générale SA.

– Read about media and telecom capital markets activity in North America in March. – Run a custom screen of capital offerings by industry or geography on our Transactions Statistics page.

French telecom operator Orange SA's concurrent $2 billion and $1.5 billion offerings in January are the sector's largest and second-largest offerings so far in 2026.

Turning to the media and telecom subsectors, integrated telecom services companies raised the most capital year to date, at $9.77 billion. Cable and satellite companies came in second with $1.93 billion, while the broadcasting segment ranked third with $880 million.