SES Successfully Prices EUR 750 Million Eurobond – Parabolic Arc

LUXEMBOURG, June 7, 2022 (SES PR) – SES SA today announced the successful launch and pricing of a bond issue in which the company has agreed to sell senior unsecured fixed rate bonds due in 2029 for a total amount of 750 million euros [US $789 million]. The new bonds will carry a coupon of 3.50% and have been priced at 99.725% of their face value, representing a credit spread of 175 bps and a yield to maturity of 3.55%.

SES is rated Baa2, outlook negative by Moody’s and BBB, outlook stable by Fitch. The proceeds of the issue will be used for general corporate purposes, which include refinancing existing debt.

With this transaction, which was more than twice oversubscribed, SES took advantage of current credit market conditions to further strengthen its liquidity profile well ahead of the maturity of the $750 million senior debt in April this year. next. Following today’s transaction, SES has no senior debt maturities to refinance until 2024.

BNP Paribas, Commerzbank, Goldman Sachs International, JP Morgan, Société Générale and SMBC acted as Joint Bookrunners. Settlement is scheduled for June 14, 2022 and an application has been made for the notes to be listed on the Luxembourg Stock Exchange. The securities were placed with a wide range of institutional investors across Europe.

Sandeep Jalan, Chief Financial Officer of SES, said: “We are very pleased to have secured this financing which allows us to further strengthen our liquidity position in a rising interest rate environment. The successful conclusion of this bond issue reflects the market’s view that SES is an investment grade credit and underlines SES’s ability to obtain financing at attractive terms.

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