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 31 December 2016, the following Eurobonds were outstanding:

ISIN Security Code Bloomberg Code (SESGFP) Issue Date Amount in EUR Coupon Maturity
XS 0984751254 EJ8872305 24 Oct 2013 500m 1.875% 24 Oct 2018
XS 0493098486 EI1725007 09 Mar 2010 650m 4.625% 09 Mar 2020
XS 0600056641 EI5798438 11 Mar 2011 650m 4.750% 11 Mar 2021

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

 

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 31 December 2016, the following USD Bonds were outstanding:

ISIN Security Code Bloomberg Code (SESGFP) Issue Date Amount in USD Coupon Maturity
US78413KAA07 EK1316547 25 Mar 2014 500m 2.500% 25 Mar 2019
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

On 29 October 2012 SES entered into 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 Issue Date Amount in EUR Coupon Maturity
Schuldschein EUR 12 Nov 2012 50m 4.000% 12 Nov 2032

 

EIB

In April 2009 SES concluded a EUR 200 million loan with the European Investment Bank (EIB). This facility, bearing interest at 3.618%, is repayable in six annual installments between May 2012 and May 2017.

  Currency Signing Date Amount in EUR Coupon Maturity
EIB             EUR 21 Apr 2009 200m 3.618% 05 May 2017

 

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.

 

U.S. Ex-Im Bank

In April 2011, SES signed a financing agreement with U.S. Ex-Im Bank for an amount of USD 158 million, for the investment in one geostationary satellite (Quetzsat-1) and 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%.

 

Syndicated Credit Facility

On 14 January 2014, SES renewed its syndicated credit facility of EUR 1.2 billion Revolving Credit Facility with a syndicate of 20 banks.

  Currency Signing Date Amount in EUR Interest Rate Maturity
Syndicated Credit Facility EUR 14 Jan 2014 1,200m EURIBOR+45bps 14 Jan 2021

 

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.