LUXEMBOURG-Tuesday 29 October 2019 [ AETOS Wire ]
(BUSINESS WIRE) --
SES S.A. announced today the successful launch and pricing of a bond
offering in which it has agreed to sell senior unsecured fixed rate
notes due in 2027 for a total amount of EUR 500 million. The notes will
bear a Coupon of 0.875% per annum and were priced at 99.762% of their
nominal value.
SES
is rated Baa2 by Moody’s (with stable outlook) and BBB- by Standard
& Poor’s (with stable outlook). Proceeds of the issuance will be
used for general corporate purposes which includes the refinancing of
existing debt.
With
this transaction, which was oversubscribed by more than 5 times, SES
has taken advantage of the current attractive market conditions to
further strengthen its liquidity profile ahead of a EUR 650 million
senior debt maturity in March of next year and issued a bond with the
lowest coupon in the company's history.
Goldman
Sachs, HSBC, JP Morgan, MUFG, SMBC Nikko and Société Générale acted as
Joint Bookrunners. The settlement is scheduled for 4 November 2019 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.
Andrew
Browne, Chief Financial Officer of SES, commented: “We are pleased to
have secured this financing which allows us to proactively refinance an
upcoming debt maturity at more favourable terms. 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."
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.
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About SES
SES
is the world’s leading satellite operator with over 70 satellites in
two different orbits, Geostationary Orbit (GEO) and Medium Earth Orbit
(MEO). It provides a diverse range of customers with global video
distribution and data connectivity services through two business units:
SES Video and SES Networks. SES Video reaches over 355 million TV homes,
through Direct-to-Home (DTH) platforms and cable, terrestrial, and IPTV
networks globally. SES Video delivers a full suite of innovative
end-to-end value-added services for both linear and digital
distribution, and includes the ASTRA satellite system, which has the
largest DTH television reach in Europe. SES Networks provides global
managed data services, connecting people in a variety of sectors
including telecommunications, maritime, aeronautical, and energy, as
well as governments and institutions across the world. The SES Networks
portfolio includes GovSat, a 50/50 public-private partnership between
SES and the Luxembourg government, and O3b, the only non-geostationary
system delivering fibre-like broadband services today. Further
information is available at: www.ses.com
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191028005633/en/Contacts
Richard Whiteing
Investor Relations
Tel. +352 710 725 261
richard.whiteing@ses.com
