SES successfully seals €400MN loan deal | Media Investment | Business
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In a move that the company says allows it to be fully-funded into 2020, leading satellite operator SES has completed the syndication of Schuldschein Loans for a total amount of €400 million.

SES TVGE 20Feb20181The cash injection deal comprises a €150 million 5.5-year floating tranche at Euribor 6 months plus 0.80% and a €250 million 7-year fixed rate tranche with a coupon of 1.71%. SES is now rated Baa2/BBB, both with stable outlook said the company.

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 $500 million 144A bond with a coupon of 2.5% and a final maturity date of 25 March 2019.

“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,” commented SES chief financial officer Andrew Browne.