SES €400m multi-tranche Schuldschein loan
General corporate purposes and refinancing, including the US$500m 2.5% 144A bond due 25 March 2019
Key terms
- Borrower or issuer
- SES
- Date
- 19 Dec 2018
- Type
- Bank facility
- Amount
- €400m (US$472m)
- Pricing
- Floating tranche 6-month Euribor + 0.80%; fixed tranche 1.71%
- Maturity
- 2025-12-19
Recorded terms
- Structure
- Schuldschein loans: €150m 5.5-year floating tranche and €250m 7-year fixed tranche; upsized and placed with European and Asian institutions
- Lenders and arrangers
- BNP Paribas, ING Bank, Landesbank Baden-Württemberg and Landesbank Hessen-Thüringen, joint arrangers
- Country
- Luxembourg
Parties
- SES borrower or issuer
- Lenders: BNP Paribas, ING, LBBW, Helaba
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 4 Nov 2019 | Iridium US$1,450m credit facility | Bank facility | US$1.45bn |
| 22 Nov 2019 | Telesat Canada 2019 refinancing | Bank facility | US$2.51bn |
| 26 Nov 2019 | Globalstar US$199m second lien term loan | Bank facility | US$199m |
| 18 Dec 2017 | ORBCOMM US$25m senior secured revolving credit facility | Bank facility | US$25m |
| 3 Jun 2020 | OHB €300m syndicated credit facility (2020) | Bank facility | €300m |
More from SES
| Date | Financing | Type | Amount |
|---|---|---|---|
| 24 Mar 2026 | SES €650m 7.375% perpetual hybrid | Bond | €650m |
| 24 Jun 2025 | SES €1bn senior notes (4.125% 2030 and 4.875% 2033) | Bond | €1bn |
| 23 Dec 2024 | EIB €150m loans to SES (2024) | Government finance | €150m |
| 6 Sep 2024 | SES €1bn hybrid dual-tranche bonds | Bond | €1bn |
| 19 Jun 2024 | SES acquisition financing for Intelsat | Acquisition finance | €3bn |
| 16 Dec 2022 | EIB €300m loan to SES | Government finance | €300m |
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$730m |
Sources
- SES press release: EUR 400 million Schuldschein loan (filed with the AMF) echanges.dila.gouv.fr · 19 Dec 2018
About this record
Record ORB-2018-0007, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
A revolving or term facility is a relationship loan from a bank group, priced at a margin over a reference rate, with financial covenants and an agent.
