SES €1bn hybrid dual-tranche bonds
- Issuer or borrower
- SES
- Date
- 6 Sep 2024
- Amount
- €1bn
- US$ equivalent
- US$1.1bn
- Type
- Bond
- Structure
- Subordinated hybrid notes in two tranches: non-call 5.25 years and non-call 8 years
- Pricing
- 5.5% (NC5.25, issued at 99.473%); 6.0% (NC8, issued at par)
- Purpose
- Intelsat acquisition
- Country
- Luxembourg
Sources
- SES: successfully prices EUR 1 billion hybrid dual-tranche bond offering ses.com · 6 Sep 2024
Checked against the documents above. Record ORB-2024-0005.
Other financings by SES
| Date | Financing | Type | Amount |
|---|---|---|---|
| 24 Mar 2026 | SES €650m 7.375% perpetual hybrid | Bond | €650m |
| 23 Dec 2024 | EIB €150m loans to SES (2024) | Government finance | €150m |
| 19 Jun 2024 | SES acquisition financing for Intelsat | Acquisition finance | €3bn |
| 16 Dec 2022 | EIB €300m loan to SES | Government finance | €300m |
| 27 May 2021 | SES €625m hybrid bonds (2021) | Bond | €625m |
| 26 Jun 2019 | SES €1.2bn syndicated revolving credit facility | Bank facility | €1.2bn |
M&A and investment involving SES
| Date | Deal | Type | Value |
|---|---|---|---|
| 17 Jul 2025 | SES acquisition of Intelsat | M&A | US$2.6bn |
| 1 Aug 2016 | SES acquisition of the rest of O3b Networks | Stake sale | US$730m |
