SES S.A. announced today the successful launch and pricing of a tap of its 1.625 percent notes due 22 March 2026 in which it has agreed to sell incremental senior unsecured fixed rate notes for a total amount of EUR€150 million. The new notes were priced at 106.665 percent of their nominal value representing a credit spread of 47Bps and a yield-to-maturity of 0.207 percent.
SES is rated Baa2 by Moody’s (with negative outlook) and BBB- by Standard & Poor’s (with stable outlook). Proceeds of the issuance will be used for general corporate purposes.
BBVA, Deutsche Bank and IMI Intesa Sanpaolo acted as Joint Bookrunners. The settlement is scheduled for 29 June 2021 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.
Sandeep Jalan, Chief Financial Officer of SES, commented, “We are pleased to have secured this financing which allows us to further strengthen our liquidity position at the lowest yield ever achieved by SES. 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.”
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