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SES Successfully Placed EUR 400 Million Multi-Tranche Schuldschein Loan

 

December 19, 2018

SES S.A., has completed the syndication of Schuldschein Loans for a total amount of EUR 400 million, comprising a EUR 150 million 5.5-year floating tranche at Euribor 6 months plus 0.80% and a EUR 250 million 7-year fixed rate tranche with a coupon of 1.71%. SES is rated Baa2/BBB- (both with stable outlook).

The Schuldschein loan was upsized from the initially marketed size and was placed with several European and Asian institutions. The proceeds will support SES’ general corporate purposes and the refinancing of existing debt maturities which include a USD 500 million 144A bond with a coupon of 2.5% and a final maturity date of 25 March 2019.

Andrew Browne, Chief Financial Officer of SES, commented: “We are pleased to have secured this financing at very attractive terms and expanding our investor base while extending our debt maturity profile, where we now have no further senior debt maturities to be financed until early 2020.”

BNP Paribas, ING Bank, Landesbank Baden-Württemberg and Landesbank Hessen-Thüringen acted as joint arrangers of this Schuldschein transaction.