Debt / loan facilities

Eurobonds

SES has a Euro Medium Term Note Programme (EMTN), which supports SES access to debt markets as and when required. The programme allows for total debt issuance up to EUR 4 billion. As per 10 July 2014, the following SES Eurobonds were outstanding:

ISIN
Security
Code
Issue
Date
Amount
in EUR
Coupon Maturity

Bloomberg
Code
(SESGFP)

XS 0984751254 24 Oct 2013 500m 1.875% 24 Oct 2018 EJ8872305
XS 0493098486 09 Mar 2010 650m 4.625% 09 Mar 2020 EI1725007
XS 0600056641 03 Nov 2011 650m 4.75% 03 Nov 2021 EI5798438

European Private Placement under the EMTN programme

ISIN
Security
Code
Issue
Date
Amount
in EUR
Coupon Maturity

Bloomberg
Code
(SESGFP)

XS 0440643087 05 Aug 2009 150m 5.05% 05 Aug 2016 EH9032416
XS 0786606789 18 May 2012 140m 4.00% 31 May 2027 EJ206178

Uncommitted Money Market Facilities

SES has negotiated short term uncommitted credit facilities with several banks.

USD Bond

SES and SES Global Americas Holdings GP respectively have issued the following senior unsecured obligations which are ranked pari passu with all other unsecured senior indebtedness of SES. The notes issued by SES are unconditionally and irrevocably guaranteed by SES Global Americas Holdings GP and - vice versa - the notes issued by SES Global Americas Holdings GP are unconditionally and irrevocably guaranteed by SES:

ISIN
Security
Code
Issue
Date
Amount
in USD
Coupon Maturity Bloomberg
Code
(SESGFP)
US78413KAA07 25 Mar 2014 500m 2.500% 25 Mar 2019 EK1316547
USL8175MAB65 26 Mar 2013 750m 3.600% 04 Apr 2023 EJ6118032
USL8175MAC49 26 Mar 2013 250m 5.300% 04 Apr 2043 EJ6118081
US78413KAB89 25 Mar 2014 500m 5.300% 25 Mar 2044 EK1316604

The notes will not be and have not been registered under US Securities Act of 1993 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Schuldschein

On 29 October 2012 the group signed an agreement to issue EUR 50 million in the German Bond ("Schuldschein") market. The bond bears a fixed interest rate of 4% and matures on 12 November 2032.

  Currency Amount Interest Rate Maturity Date
Schuldschein  EUR 50m 4.00% 12 Nov 2032

Commercial Paper Programmes

 

French Commercial Paper Programme

SES has a French commercial paper programme in place with a total programme size of EUR 500 million. This enables short term borrowings of up to 12 months in maturity. The borrowing facility is renewed annually.

European Commercial Paper Programme

SES has an European commercial paper programme in place with a total programme size of EUR 1,000 million. This enables short term borrowings of up to 183 days in maturity. The borrowing facility is rated by Moody's Investors Service Ltd. and is updated periodically.

Syndicated Credit Facility

On 14 January 2014, SES renewed its syndicated credit facility of EUR 1.2 billion Revolving Credit Facility with a group of 20 banks. The margin and the amount available is shown in the table below.

Currency Amount
Interest Rate Maturity Date
EUR 1200m EURIBOR + 45 bps 13 Jan 2021

EIB

SES also concluded a EUR 200 million loan in April 2009. This facility, bearing interest at 3.618%, is repayable in six annual installments between May 2012 and May 2017.

  Currency Amount
Interest Rate Maturity Date
EIB             EUR 200m 3.618% 06 May 2017

Coface

The Export Credit Funding Facility, signed on 16 December 2009 over EUR 523 million, arranged by three banks, for the procurement of four satellites (ASTRA 2E, 2F, 2G and 5B from Astrium) is backed by a guarantee from Coface. The facility will mature in 2022.

U.S. Ex-Im Bank

In April 2011, SES signed a financing agreement with U.S. Ex-Im Bank over USD 158 million for the investment in one geostationary satellite (Quetzsat-1) with a maturity of 10 years. The loan has a final maturity date of 20 June 2020, is repayable in 17 semi-annual installments between June 2012 and June 2020, and bears interest at a fixed rate of 3.11%.