Satellite operator SES says it has raised €500 million of debt in the form of an 8-year Eurobond. Terms of the borrowing are that the notes will bear a Coupon of 1.625 per cent per annum and were priced at 99.34 per cent of their nominal value.
Repayment is due in 2026. Proceeds of the issuance will be used for general corporate purposes (which includes the refinancing of existing debt).
In a statement SES said: “With this transaction, SES has taken advantage of the current attractive market conditions to further strengthen its liquidity profile ahead of a €500 million senior debt maturity later this year and issue a bond with the lowest coupon in the company’s history.
BBVA, BNP Paribas, Commerzbank, HSBC, ING and J.P. Morgan acted as joint bookrunners. The settlement is scheduled for 22 March 2018 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.