SES Successfully Prices EUR 750 million Eurobond
SES S.A. today announced the successful launch and pricing of a bond offering in which the company has agreed to sell senior unsecured fixed rate notes due in 2029 for a total amount of EUR 750 million. The new notes will bear a coupon of 3.50% and were priced at 99.725% of their nominal value, representing a credit spread of 175bps and a yield-to-maturity of 3.55%.
SES is rated Baa2, negative outlook by Moody’s and BBB, stable outlook by Fitch. Proceeds of the issuance will be used for general corporate purposes, which include the refinancing of existing debt.
With this transaction, which was oversubscribed by more than two times, SES has taken advantage of the current credit market conditions to further strengthen its liquidity profile well ahead of the USD 750 million senior debt maturity in April of next year. As a result of today’s transaction, SES has no senior debt maturities to be refinanced until 2024.
BNP Paribas, Commerzbank, Goldman Sachs International, JP Morgan, Société Générale and SMBC acted as Joint Bookrunners. The settlement is scheduled for 14 June 2022 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 very pleased to have secured this financing which allows us to further strengthen our liquidity position in an environment of rising interest rates. 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."
SES has a bold vision to deliver amazing experiences everywhere on earth by distributing the highest quality video content and providing seamless connectivity around the world. As the leader in global content connectivity solutions, SES operates the world’s only multi-orbit constellation of satellites with the unique combination of global coverage and high performance, including the commercially-proven, low-latency Medium Earth Orbit O3b system. By leveraging a vast and intelligent, cloud-enabled network, SES is able to deliver high-quality connectivity solutions anywhere on land, at sea or in the air, and is a trusted partner to the world’s leading telecommunications companies, mobile network operators, governments, connectivity and cloud service providers, broadcasters, video platform operators and content owners. SES’s video network carries over 8,400 channels and has an unparalleled reach of 366 million households, delivering managed media services for both linear and non-linear content. The company is listed on Paris and Luxembourg stock exchanges (Ticker: SESG). Further information is available at: www.ses.com
The securities have not been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or the securities laws of any other jurisdiction and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or unless pursuant to an applicable exemption from the registration requirements of the Securities Act and any other applicable securities laws. No public offering of securities will be made in the United States of America or in any other jurisdiction where such an offering is restricted or prohibited. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.
This announcement does not constitute and shall not, in any circumstances, constitute a public offering nor an invitation to the public in connection with any offer within the meaning of the Directive 2003/71/EC of the Parliament and Council of November 4, 2003 as implemented by the Member States of the European Economic Area (the “Prospectus Directive”). With respect to the member States of the European Economic Area which have implemented the Prospectus Directive (each, a “relevant member State”), no action has been undertaken or will be undertaken to make an offer to the public of the securities requiring a publication of a prospectus in any relevant member State. As a result, the securities may only be offered in relevant member States: (a) to qualified investors (as defined in the Prospectus Directive, including as amended by directive 2010/73/EU, to the extent that this amendment has been implemented by the relevant member State); or (b) in any other circumstances, not requiring the issuer to publish a prospectus as provided under article 3(2) of the Prospectus Directive.
In addition to (and without prejudice to) the foregoing, in the European Economic Area this press release is directed only at persons who are not retail investors. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (“MiFID II”); (ii) a customer within the meaning of Directive 2002/92/EC, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) a “qualified investor” within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC as amended by Directive 2010/73/EU).
With respect to the United Kingdom, this press release is only directed at (i) persons who are outside the United Kingdom, (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). Any securities will only be available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
Tel. +352 710 725 261
Tel. +352 710 725 500
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
SINOVAC joins hands with HKU-CTC research team and Gleneagles Hospital Hong Kong to kick off a clinical trial of an Omicron-specific inactivated vaccine for booster use in Hong Kong, China4.7.2022 14:30:00 EEST | Press release
A kick off ceremony was held at Gleneagles Hospital Hong Kong (Gleneagles or GHK) for initiating a clinical trial to assess the safety and immunogenicity of the SINOVAC’s Omicron-specific COVID-19 inactivated vaccine used as a booster shot in healthy adults, in anticipation of providing scientific evidence for future immunization strategy. This study is led by a medical research team of the University of Hong Kong Clinical Trials Centre (HKU-CTC) in collaboration with Gleneagles. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220704005146/en/ [From right to left] Professor Ivan Hung Fan-ngai, Ru Chien & Helen Lieh Professor in Health Sciences Pedagogy, Clinical Professor and Chief of Infectious Diseases, Department of Medicine, School of Clinical Medicine, Assistant Dean (Admissions), LKS Faculty of Medicine of The University of Hong Kong; Dr Kenneth Tsang, CEO of Gleneagles Hospital Hong Kong; Ms. Cheryl Law, International
BearingPoint Appoints 19 New Partners Across Europe4.7.2022 10:58:00 EEST | Press release
Management and technology consultancy BearingPoint announced today that it has appointed 19 new Partners across Europe. 14 Partners have been internally promoted, and five Partners joined BearingPoint from outside the firm. The appointments underline the firm’s ongoing success and growth and the ambitions defined in its Strategy 2025: putting people in the center, outperforming the market every year, and being in the top three in chosen areas of expertise. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220704005035/en/ Kiumars Hamidian, Managing Partner BearingPoint. (Photo: Business Wire) Kiumars Hamidian, Managing Partner BearingPoint, said: “It is a real pleasure that we were able to promote internally 14 new Partners to our Partner-led firm. All of them have reached this important milestone based on their exceptional abilities, deep industry expertise and outstanding commitment to serving our clients. In addition to our
VOOPOO Unveils 3 New Products, Telling Story of Its 8-year Entrepreneurship Journey in 30 Minutes4.7.2022 10:15:00 EEST | Press release
VOOPOO’s 2022 "More Than Infinity" virtual product launch was held on June 29, 2022, where VOOPOO took 30 minutes to review its brand story during the past 8 years since its founding, expounding the connection between the “infinity symbol” and the brand spirit and demonstrating its commitment to creating infinite new possibilities using technology in 3 chapters. Meanwhile, the event was highlighted by 3 POD products featuring VOOPOO’s most cutting-edge technology. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220629005586/en/ Infinite innovation: The new product launch, backed by atomization platforms and chip development, manifests VOOPOO’s R&D strength. (Graphic: Business Wire) A very important theme at the virtual event was telling the growth story of VOOPOO since its founding 8 years ago. Evolving from an atomization chip solution provider to today’s industry leader of open electronic atomization, VOOPOO has driven the
AGILA Pet Insurance becomes part of JAB Backed Pinnacle Pet Group, to create a Leading Pan-European Pet Insurance Platform4.7.2022 10:00:00 EEST | Press release
JAB Holding Company ("JAB") and WERTGARANTIE Group today announced a strategic partnership whereby JAB's European pet insurance platform, Pinnacle Pet Group ("PPG") will acquire 100% of the shares in AGILA Tierversicherung AG (“AGILA”), the German market leader in pet insurance, from the WERTGARANTIE Group. In return, the WERTGARANTIE Group will become an investor in PPG. The transaction is expected to close in Q4 2022, subject to customary closing conditions, including regulatory approvals. The parties have agreed not to disclose the financial details of the transaction. With JAB’s support, PPG will be built into a leading Pan-European platform for animal insurance through strategic investments and organic growth. The WERTGARANTIE Group will also continue to support PPG successful German activities as a relevant shareholder. AGILA will be an essential component of PPG's expansion. All employees at the Hanover headquarters will join the platform and will play a key role in PPG’s expans
Port Decarbonization: the First High-powered Hydrogen Barge for the Electrification of Ships at Berth4.7.2022 09:00:00 EEST | Press release
Hydrogène de France (“HDF Energy”) – Euronext Paris: HDF – and its partners of the ELEMANTA H2 project announce the signature of an MoU to deploy mobile solutions providing, from green or low-carbon hydrogen, cold ironing services complementing the electrical grid, for container ships, cruise ships or tankers. ELEMANTA H2 will also enable hydrogen bunkering to meet the refueling needs of future hydrogen ships. Maritime transport accounted for 13.5% of European total greenhouse gas emissions in 2018. In order to reach the European objective of reducing greenhouse gas emissions by 55% by 2030, the sector must accelerate its energy transition. ELEMANTA H2 aims to contribute to the decarbonization of port activities. The partners have identified the Port of Rouen and the Rubis Terminal location as a pioneer site because of its strategic position close to Paris. With the support of Normandie Energies and the port operator HAROPA, a demonstration barge will embed a high-power hydrogen fuel c
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom