Debt & Loan Facilities

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.

SES and SES Global Americas Holdings INC. respectively have issued the following senior unsecured obligations which rank 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 INC. and - vice versa - the notes issued by SES Global Americas Holdings INC. are unconditionally and irrevocably guaranteed by SES.

As per 30 June 2023, the following Eurobonds were outstanding:

European Private Placement under the EMTN programme

Documents:

SES Deed of Covenant

SES Americas Deed of Covenant

SES Deed of Guarantee

SES Americas Deed of Guarantee

SES Americas Bylaws

SES Articles of Association

SES and SES Global Americas Holdings INC. respectively have issued the following senior unsecured obligations which rank 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 INC. and - vice versa - the notes issued by SES Global Americas Holdings INC. are unconditionally and irrevocably guaranteed by SES.

As per 30 June 2023, the following USD Bonds were outstanding:

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.

In 2012 and 2018, SES placed in total three individual Schuldschein Loans in the German Bond ("Schuldschein") market for an aggregated amount of EUR 450 million comprising a EUR 150 million floating tranche and two fixed rate tranches with a coupon of 1.71% and 4.00% respectively.

On 26 June 2019, SES renewed its syndicated credit facility of EUR 1.2 billion Revolving Credit Facility with a syndicate of 19 banks.

In 2021 the Company extended the Termination Date from 26 June 2025 to 26 June 2026.

On 16 December 2022 SES signed the seven-year contract with EIB which will support the funding of SES’s three fully digital satellites serving Western Europe, Africa and the Middle East.

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 a 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. The borrowing facility is rated by Moody's Investors Service Ltd. and Fitch and is updated periodically.

In 2016 and 2021, SES has issued deeply subordinated fixed rate resettable securities (so-called “Hybrid bonds”) for a total amount of EUR 1.175 million. The securities rank pari passu amongst themselves. The securities issued by SES are unconditionally and irrevocably guaranteed by SES Global Americas Holding INC.

As per 30 June 2023, the following Hybrid bonds were outstanding:

Documents:

Partnership agreement

Deed of Covenant

Deed of Guarantee

Articles of Incorporation of SES