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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.

SES and SES Global Americas Holdings GP 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 GP and - vice versa - the notes issued by SES Global Americas Holdings GP are unconditionally and irrevocably guaranteed by SES.

As per 30 June 2021, the following Eurobonds were outstanding:

ISIN Security Code Bloomberg Code (SESGFP) Issue Date Amount in EUR Coupon Maturity
XS1796208632 AR7568900 22 Mar 2018 650m 1.625% 22 Mar 2026
XS2075811781 ZQ326823 04 Nov 2019 500m 0.875% 04 Nov 2027
XS2196317742 BK184944 02 Jul 2020 400m 2.0% 02 Jul 2028

 

European Private Placement under the EMTN programme

ISIN Security Code Bloomberg Code (SESGFP) Issue Date Amount in EUR Coupon Maturity
XS 0786606789 EJ206178 31 May 2012 140m 4.000% 31 May 2027

Documents:

SES Deed of Covenant

SES Americas Deed of Covenant

SES Deed of Guarantee

SES Americas Deed of Guarantee

Partnership Agreement

Articles of Association 

USD 144a Bonds

SES and SES Global Americas Holdings GP 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 GP and - vice versa - the notes issued by SES Global Americas Holdings GP are unconditionally and irrevocably guaranteed by SES.

As per 30 June 2021, the following USD Bonds were outstanding:

ISIN Security Code Bloomberg Code (SESGFP) Issue Date Amount in USD Coupon Maturity
USL8175MAB65 EJ6108983 04 Apr 2013 750m 3.600% 04 Apr 2023
USL8175MAC49 EJ6108934 04 Apr 2013 250m 5.300% 04 Apr 2043
US78413KAB89 EK1316604 25 Mar 2014 500m 5.300% 25 Mar 2044

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

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.

  Currency Issue Date Amount in EUR Coupon Maturity
Schuldschein EUR 18 Dec 2018 150m floating 18 Jun 2024
Schuldschein EUR 18 Dec 2018 250m 1.710% 18 Dec 2025
Schuldschein EUR 12 Nov 2012 50m 4.000% 12 Nov 2032
Coface

The Export Credit Funding Facility, signed on 16 December 2009 for an amount of 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 3 October 2022.

Syndicated Credit Facility

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.

  Currency Signing Date Amount in EUR Interest Rate Maturity
Syndicated Credit Facility EUR 26 June 2019 1,200m EURIBOR+45bps 26 June 2026
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 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 Standard & Poor’s and is updated periodically.

Hybrid bonds

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 GP.

As per 30 June 2021, the following Hybrid bonds were outstanding:

ISIN Bloomberg Code Issue Date Amount in EUR Coupon Maturity
XS1405765659 AL2119157 29 Nov 2016 550m 5.625% Perpetual
XS2010028343 BP5739076 27 May 2021 625m 2.875% Perpetual

Documents:

Partnership agreement

Deed of Covenant

Deed of Guarantee

Articles of Incorporation of SES