SES Announces Successful Syndication and Raising of €3 Billion Acquisition Financing
2024年6月19日 - 6:59PM
ビジネスワイヤ(英語)
- €2.1 billion bridge facility provided by a group of
relationship banks
- US$1 billion bank term loan facility to cover part of the
financing requirements
- Extension of existing €1.2 billion revolving credit facility by
two additional years
SES S.A. announces the successful syndication of a €3 billion
equivalent acquisition financing package to support the earlier
announced agreement for SES to acquire Intelsat S.A.. Prior to the
Intelsat deal announcement, Deutsche Bank AG and Morgan Stanley
jointly had underwritten a €3 billion bridge facility to support
SES’s financing requirements as part of the agreement to acquire
Intelsat. This €3 billion bridge facility has been successfully
syndicated now, with a highly oversubscribed level of commitments,
to an international group of existing relationship and new banks in
the form of a €2.1 billion bridge facility and US$1 billion term
loan. The term loan was upsized in syndication on the back of a
strong response from the bank group.
The bridge facility serves to provide financing certainty and
flexibility in the issuance of bonds. The bridge facility has tenor
of 12 months and is extendable twice by a further six months while
the term loan has a five-year amortising tenor from its drawl. The
term loan financing diversifies funding sources for SES, at an
attractive rate, and provides flexibility for deleveraging over
time. SES has also agreed to a two-year extension of the €1.2
billion revolving credit facility (signed 26 June 2019) thereby
maintaining a fully committed back-up liquidity facility up to 26
June 2028 with a group of 19 banks.
Sandeep Jalan, Chief Financial Officer of SES, said, “We are
delighted to have received overwhelming support of our banking
partners in the financing of this important and transformational
transaction for SES. The bridge facility provides SES with
financing flexibility from a capital markets issuance perspective
while the term loan serves as a source of long-term financing.”
To find out more about SES and Intelsat deal announcement, visit
our newsroom.
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About SES
SES has a bold vision to deliver amazing experiences everywhere
on earth by distributing the highest quality video content and
providing seamless data connectivity services around the world. As
a leader in global content connectivity solutions, SES owns and
operates the world’s only geosynchronous orbit and medium earth
orbit (GEO-MEO) constellation of satellites with the unique
combination of global coverage and high performance. By leveraging
its vast and intelligent, cloud-enabled network, SES delivers
high-quality connectivity solutions anywhere on land, at sea or in
the air, and is a trusted partner to the world’s leading
telecommunications companies, mobile network operators,
governments, connectivity and cloud service providers,
broadcasters, video platform operators and content owners. SES’s
video network carries over 6,400 channels, reaching 363 million
households, delivering managed media services for both linear and
non-linear content. The company is headquartered in Luxembourg and
listed on Paris and Luxembourg stock exchanges (Ticker: SESG).
Further information is available at: www.ses.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240619100510/en/
Suzanne Ong External Communications Tel. +352 710 725 500
suzanne.ong@ses.com
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