SES has taken advantage of the improving conditions in the market by raising $1 billion in the USA in fresh borrowings. It has issued two sets of so-called ‘Yankee’ bonds, due for repayment in 2023 and 2043.
The precise terms will see $750 million raised in 3.600 per cent notes due in 2023 at a price equal to 99.518 per cent of the principal amount, and the balance of $250 million of 5.300 per cent notes at a price of 99.213 per cent, due for repayment in 2043.
“This inaugural transaction is of strategic and long-term importance for SES,” says SES. “The Company is very pleased now to have an established transaction in the largest [USA] capital market in the world.” The transaction is guaranteed by SES, and enables SES to diversify its bond investor base and to increase the average maturity of its debt.