> 资讯

SES Successfully Prices EUR 1 Billion Hybrid Dual-tranche Bond Offering 发布时间:2024-09-06 来源:互联网

LUXEMBOURG -- (BUSINESS WIRE) --

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE UNITED STATES), OR TO ANY US PERSON (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933), OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

SES S.A. announced the successful launch and pricing of a hybrid dual-tranche bond offering in which it has agreed to sell Deeply Subordinated Fixed Rate Resettable Securities for a total amount of EUR 1 billion.

The transaction is composed of a EUR 500 million 30-year Non-Call (NC) 5.25-year tranche with a first reset date on 12 December 2029 and a EUR 500 million 30-year NC 8-year tranche with a first reset date on 12 September 2032. The NC 5.25-year notes will bear a coupon of 5.5% per annum and were priced at 99.473% of their nominal value while the NC 8-year notes will bear a coupon of 6% per annum and were priced at par.

The successful outcome was the result of strong investor engagement and demand as evidenced by a sizeable order book which peaked above EUR 4 billion in total and allowed SES to price the notes competitively on both tranches.

The instrument’s credit ratings are expected to be Ba2 and BB+ with Moody’s and Fitch respectively and will also rank pari-passu with SES outstanding EUR 625 million Deeply Subordinated Fixed Rate Resettable Securities, with a first reset date on 27 August 2026. The new 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 financial liabilities under IFRS.

The settlement is scheduled for 12 September 2024 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.

Proceeds of the issuance will be used for general corporate purposes, including financing the acquisition of Intelsat and/or refinancing any existing indebtedness of the Group.

Sandeep Jalan, Chief Financial Officer of SES, commented, “We are pleased to have secured this new hybrid offering. The success of this transaction demonstrates investors' confidence in SES’s investment grade credit and strong cash-generation profile.”

Deutsche Bank and Morgan Stanley acted as Global Coordinators, together with BNP Paribas, Citi, HSBC and SMBC as Joint Bookrunners.

Follow us on:

Twitter | Facebook | YouTube | LinkedIn | Instagram

Read our Blogs >

Visit the Media Gallery >

About SES

SES has a bold vision to deliver amazing experiences everywhere on Earth by distributing the highest quality video content and providing seamless data connectivity services around the world. As a provider of global content and connectivity solutions, SES owns and operates a geosynchronous orbit fleet and medium earth orbit (GEO-MEO) constellation of satellites, offering a combination of global coverage and high performance services. By using its intelligent, cloud-enabled network, SES delivers high-quality connectivity solutions anywhere on land, at sea or in the air, and is a trusted partner to telecommunications companies, mobile network operators, governments, connectivity and cloud service providers, broadcasters, video platform operators and content owners around the world. The company is headquartered in Luxembourg and listed on Paris and Luxembourg stock exchanges (Ticker: SESG). Further information is available at: www.ses.com

责任编辑:interfax

图片版权归原作者所有,如有侵权请联系我们,我们立刻删除。

随机文章