SES Successfully Prices EUR 625 Million Hybrid Bond Offering
SES S.A. announced the successful launch and pricing of a hybrid bond offering in which it has agreed to sell Deeply Subordinated Fixed Rate Resettable Securities for a total amount of EUR 625 million, with a first reset date on 27 August 2026. The notes will bear a Coupon of 2.875% per annum and were priced at 99.409% of their nominal value.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210520005435/en/
SES Successfully Prices EUR 625 Million Hybrid Bond Offering (Photo: Business Wire)
The instrument’s credit ratings are expected to be Ba1/BB with Moody’s and Standard & Poor’s respectively. The hybrid bonds issued by SES are non-dilutive instruments that are expected to receive 50% equity credit by both rating agencies and be classified as equity under IFRS. Proceeds of the issuance will be used for general corporate purposes which includes the possible refinancing of existing hybrid capital instruments.
Concurrently, SES has also announced a capped tender offer for its outstanding hybrid EUR 750 million 4.625% Perp NC2022 at a fixed purchase yield at -0.10%. With this transaction SES has taken advantage of the current attractive market conditions to proactively refinance its hybrid tranche callable in January 2022 well in advance of the first call date.
J.P. Morgan and MUFG Securities acted as Global Coordinators & Structuring Agents, together with BNP Paribas, Goldman Sachs International, HSBC, Mizuho Securities as Joint Bookrunners and Intesa Sanpaolo as Co-Lead. The settlement is scheduled for 27 May 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 new hybrid offering which allows us to proactively refinance the nearest hybrid call at significantly more favourable terms.”
The securities have not been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or the securities laws of any other jurisdiction and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or unless pursuant to an applicable exemption from the registration requirements of the Securities Act and any other applicable securities laws. No public offering of securities will be made in the United States of America or in any other jurisdiction where such an offering is restricted or prohibited. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.
This announcement does not constitute and shall not, in any circumstances, constitute a public offering nor an invitation to the public in connection with any offer within the meaning of the Directive 2003/71/EC of the Parliament and Council of November 4, 2003 as implemented by the Member States of the European Economic Area (the “Prospectus Directive”). With respect to the member States of the European Economic Area which have implemented the Prospectus Directive (each, a “relevant member State”), no action has been undertaken or will be undertaken to make an offer to the public of the securities requiring a publication of a prospectus in any relevant member State. As a result, the securities may only be offered in relevant member States: (a) to qualified investors (as defined in the Prospectus Directive, including as amended by directive 2010/73/EU, to the extent that this amendment has been implemented by the relevant member State); or (b) in any other circumstances, not requiring the issuer to publish a prospectus as provided under article 3(2) of the Prospectus Directive.
In addition to (and without prejudice to) the foregoing, in the European Economic Area this press release is directed only at persons who are not retail investors. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (“MiFID II”); (ii) a customer within the meaning of Directive 2002/92/EC, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) a “qualified investor” within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC as amended by Directive 2010/73/EU).
With respect to the United Kingdom, this press release is only directed at (i) persons who are outside the United Kingdom, (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). Any securities will only be available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
SES has a bold vision to deliver amazing experiences everywhere on earth by distributing the highest quality video content and providing seamless connectivity around the world. As the leader in global content connectivity solutions, SES operates the world’s only multi-orbit constellation of satellites with the unique combination of global coverage and high performance, including the commercially-proven, low-latency Medium Earth Orbit O3b system. By leveraging a vast and intelligent, cloud-enabled network, SES is able to deliver 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 8,400 channels and has an unparalleled reach of 361 million households, delivering managed media services for both linear and non-linear content. The company is listed on Paris and Luxembourg stock exchanges (Ticker: SESG). Further information is available at: www.ses.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
BearingPoint RegTech and Vizor Software Join Forces: Global RegTech and SupTech Powerhouse Created17.6.2021 09:50:00 CEST | Press release
BearingPoint RegTech (“RegTech”), a leading European provider of innovative regulatory, risk, and supervisory technology solutions, has signed an agreement regarding the acquisition of Vizor Software (“Vizor”). Vizoris a global leader in regulatory and supervisory technology headquartered in Dublin, Ireland. With the newly formed partnership, RegTech and Vizor aim to accelerate their future growth journey. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210617005052/en/ Jürgen Lux, CEO BearingPoint RegTech (Photo: Business Wire) The combination of the two companies follows a clear strategic rationale as the companies fit perfectly together and complement each other ideally with their solution portfolios. RegTech and Vizor have a strong track record within the regulatory and supervisory technology space. Furthermore, the two companies serve complimentary geographies. While RegTech can rely on a strong customer base in Germany,
SES Expands Cloud Leadership as Amazon Web Services Direct Connect Partner17.6.2021 08:50:00 CEST | Press release
SES today announced it has joined the Amazon Web Services (AWS) Direct Connect Delivery Partner program. Through a technical and business review process, AWS validated SES’s ability to connect its customers directly to their AWS services over its network of multi-orbit satellites. This provides SES customers flexible, secure, reliable access to their cloud-based applications and services from virtually any location around the world. This is a major advantage to both enterprises and government users who require reliable bandwidth while working in remote locations. SES is the first satellite operator to achieve AWS Direct Connect Partner status. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210616006077/en/ SES Expands Cloud Leadership as Amazon Web Services Direct Connect Partner (Photo: Business Wire) As an AWS Direct Connect Delivery Partner, SES can provide enterprises and governments with dedicated connectivity between v
SIG SolarCAD II: Solar Thermal Delivering 80°C Daily Even in Winter Months17.6.2021 07:47:00 CEST | Press release
The new SIG SolarCAD II solar thermal power plant, designed and installed by the Geneva-based TVP Solar and inaugurated in February this year, has proven its high performance in winter conditions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210616005846/en/ Even covered in snow, TVP Solar thermal panels supply SIG target temperatures and thermal energy (Photo: TVP Solar) More than 157 MWh (1.92 kWh/m²/day) of solar hot water at over 80°C were delivered to the district heat network (CAD) between January and April, i.e. 30% of the annual energy performance target of 516 MWh set between the Services Industriels de Genève (SIG) and TVP Solar. Michel Monnard, thermal director at SIG and project instigator, is delighted: “the solar plant’s performance significantly exceeded our expectations, being remarkably efficient during the cold and poor sunshine winter period when the CAD has the most need for heat.” The TVP solar thermal
C3 AI and NCS Form Strategic Partnership to Deliver Enterprise AI Applications Across Asia-Pacific17.6.2021 06:00:00 CEST | Press release
C3 AI (NYSE:AI), the Enterprise AI application software company, and NCS, a leading technology services provider and member of the Singtel Group, today announced a strategic partnership focused on delivering enterprise AI solutions to clients in Southeast Asia (SEA) and Australia/New Zealand (ANZ) across multiple industries, including telecommunications, government, financial services, transportation, and more. This agreement represents C3 AI’s first strategic partnership with a telecommunications group. NCS will leverage its deep domain experience and technology expertise in serving governments and businesses in SEA and ANZ, investing up to S$10 million to develop and deploy enterprise AI applications created on the C3 AI® Suite. C3 AI’s solutions will also be deployed across Singtel, Optus, and other affiliated telecommunications networks to bring the advantages of enterprise AI to their operations and clients. As the leader in enterprise AI applications, C3 AI’s offerings include th
MicroPort CRM Announces European Launch of Alizea TM and Borea TM Pacemakers With Bluetooth® Connectivity and Streamlined Remote Monitoring17.6.2021 06:00:00 CEST | Press release
MicroPort CRM, a pioneering company in the field of Cardiac Rhythm management, headquartered in France with global operations,announced today the European launch of AlizeaTM and BoreaTM pacemakers after receiving the CE mark under the new Medical Device Regulation (MDR - 2017/745). The devices are equipped with Bluetooth®1 technology for streamlined remote monitoring when paired with the SmartView ConnectTM home monitor. AlizeaTM and BoreaTM connected pacemakers allow cardiologists to monitor the devices remotely, saving patients the need to travel to hospital for a simple routine examination and thus reducing burden on the healthcare system. Today, with more than 500 000 patients per year implanted with a pacemaker across Europe, connected cardiac technologies are needed more than ever. "MicroPort CRM has always been committed to providing medical devices with the most advanced technology and features to improve patient outcomes and reduce the burden on the healthcare system”, said Be
Dialpad Introduces a Smarter, More Reliable Calling Experience for Microsoft Teams Users17.6.2021 01:57:00 CEST | Press release
Dialpad Inc., the industry leader in AI-powered communication and collaboration, today announced its platform integration with Microsoft Teams, a leading solution for team collaboration and engagement. Dialpad for Microsoft Teams is a cloud-native direct routing integration that seamlessly connects Dialpad’s enterprise-grade telephony features and award-winning Voice Intelligence (Vi™) capabilities into the Microsoft Teams native environment. According to Microsoft’s Hybrid Work Trend Index, workers report that their productivity has either remained the same or increased over the past year. As work methods continue to evolve, Dialpad is at the forefront, creating better, smarter and more seamless communication experiences. With Dialpad direct routing at the heart of the integration, Microsoft Teams users have access to Dialpad’s global calling capabilities with PSTN connectivity in 49 countries in addition to sophisticated inbound and outbound calling features. Powered by automatic spe
LiveArt Market Opens Trading16.6.2021 21:00:00 CEST | Press release
LiveArt is pleased to announce the public launch of LiveArt Market, the digital peer-to-peer marketplace that places control into the hands of sellers and buyers. LiveArt Market began limited, invitation-only trading last week and has already achieved sales approaching $5 million, with more than 1,000 works of art valued at approximately $120 million in the pipeline for sale. Prices have ranged between $50,000 and $500,000, with works by Amoako Boafo and Ed Clark commanding six-figure sums. Early offerings available for purchase include works by Derrick Adams, Jean-Michel Basquiat, Yayoi Kusama, Pablo Picasso and Andy Warhol, among others. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210616005925/en/ Yayoi Kusama, Little Flower, 1952, Gouache, pastel, ink, pen on paper, 11.5 x 8.5 in (Photo: Business Wire) LiveArt puts collectors in control by providing participants with one destination for real-time information and an eff