December 20, 2018
SES S.A., the world’s leading satellite operator, has completed the syndication of Schuldschein Loans for a total amount of EUR 400 million, comprising a EUR 150 million 5.5-year floating tranche at Euribor 6 months plus 0.80% and a EUR 250 million 7-year fixed rate tranche with a coupon of 1.71%. SES is rated Baa2/BBB- (both with stable outlook).
The Schuldschein loan was upsized from the initially marketed size and was placed with several European and Asian institutions. The proceeds will support SES’ general corporate purposes and the refinancing of existing debt maturities which include a USD 500 million 144A bond with a coupon of 2.5% and a final maturity date of 25 March 2019.
Andrew Browne, Chief Financial Officer of SES, commented: “We are pleased to have secured this financing at very attractive terms and expanding our investor base while extending our debt maturity profile, where we now have no further senior debt maturities to be financed until early 2020.”
BNP Paribas, ING Bank, Landesbank Baden-Württemberg and Landesbank Hessen-Thüringen acted as joint arrangers of this Schuldschein transaction.
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SES is the world’s leading satellite operator with over 70 satellites in two different orbits, Geostationary Orbit (GEO) and Medium Earth Orbit (MEO). It provides a diverse range of customers with global video distribution and data connectivity services through two business units: SES Video and SES Networks. SES Video reaches over 351 million TV homes, through Direct-to-Home (DTH) platforms and cable, terrestrial, and IPTV networks globally. The SES Video portfolio includes MX1, a leading media service provider offering a full suite of innovative services for both linear and digital distribution, and the ASTRA satellite system, which has the largest DTH television reach in Europe. SES Networks provides global managed data services, connecting people in a variety of sectors including telecommunications, maritime, aeronautical, and energy, as well as governments and institutions across the world. The SES Networks portfolio includes GovSat, a 50/50 public-private partnership between SES and the Luxembourg government, and O3b, the only non-geostationary system delivering fibre-like broadband services today. Further information is available at: www.ses.com