Press Releases
SES and Elveo Mobile Deepen Collaboration to Advance Direct-to-Device Services in Europe
SES and Elveo Mobile today announced the expansion of their collaboration to accelerate delivery of direct-to-device (D2D) services in Europe.
SES Successfully Prices EUR 150 Million Tap of 2026 Eurobond
Luxembourg, 22 June 2021 – SES S.A. announced today the successful launch and pricing of a tap of its 1.625% Notes due 22 March 2026 in which it has agreed to sell incremental senior unsecured fixed rate notes for a total amount of EUR 150 million. The new notes were priced at 106.665% of their nominal value representing a credit spread of 47bps and a yield-to-maturity of 0.207%.
SES is rated Baa2 by Moody’s (with negative outlook) and BBB- by Standard & Poor’s (with stable outlook). Proceeds of the issuance will be used for general corporate purposes.
BBVA, Deutsche Bank and IMI Intesa Sanpaolo acted as Joint Bookrunners. The settlement is scheduled for 29 June 2021 and application has been made for the notes to be listed on the Luxembourg Stock Exchange. The securities were placed with a broad range of institutional investors across Europe.
Sandeep Jalan, Chief Financial Officer of SES, commented, “We are pleased to have secured this financing which allows us to further strengthen our liquidity position at the lowest yield ever achieved by SES. The successful conclusion of this bond offering reflects the market’s view of SES as a strong investment grade credit and underlines the ability of SES to secure funding at attractive terms.”
For further information please contact:
Richard Whiteing
Investor Relations
Tel. +352 710 725 261
[email protected]
Suzanne Ong
External Communications
Tel. +352 710 725 500
[email protected]
SES Successfully Prices EUR 625 Million Hybrid Bond Offering
Luxembourg, 20 May 2021 – SES S.A. announced the successful launch and pricing of a hybrid bond offering in which it has agreed to sell Deeply Subordinated Fixed Rate Resettable Securities for a total amount of EUR 625 million, with a first reset date on 27 August 2026. The notes will bear a Coupon of 2.875% per annum and were priced at 99.409% of their nominal value.
The instrument’s credit ratings are expected to be Ba1/BB with Moody’s and Standard & Poor’s respectively. The hybrid bonds issued by SES are non-dilutive instruments that are expected to receive 50% equity credit by both rating agencies and be classified as equity under IFRS. Proceeds of the issuance will be used for general corporate purposes which includes the possible refinancing of existing hybrid capital instruments.
Concurrently, SES has also announced a capped tender offer for its outstanding hybrid EUR 750 million 4.625% Perp NC2022 at a fixed purchase yield at -0.10%. With this transaction SES has taken advantage of the current attractive market conditions to proactively refinance its hybrid tranche callable in January 2022 well in advance of the first call date.
J.P. Morgan and MUFG Securities acted as Global Coordinators & Structuring Agents, together with BNP Paribas, Goldman Sachs International, HSBC, Mizuho Securities as Joint Bookrunners and Intesa Sanpaolo as Co-Lead. The settlement is scheduled for 27 May 2021 and application has been made for the notes to be listed on the Luxembourg Stock Exchange. The securities were placed with a broad range of institutional investors across Europe.
Sandeep Jalan, Chief Financial Officer of SES, commented, “We are pleased to have secured this new hybrid offering which allows us to proactively refinance the nearest hybrid call at significantly more favourable terms.”
For further information please contact:
Richard Whiteing
Investor Relations
Tel: +352 710 725 261
[email protected]
Suzanne Ong
External Communications
Tel. +352 710 725 500
[email protected]
