SES Announces Successful Syndication And Raising Of 3 Billion Acquisition Financing

 


SES S.A. has successfully syndicated a €3 billion acquisition financing package to support its agreement to acquire Intelsat S.A. Initially underwritten by Deutsche Bank AG and Morgan Stanley, the €3 billion bridge facility has been syndicated with high demand, resulting in a €2.1 billion bridge facility and a US$1 billion term loan. The term loan was increased due to strong bank group response. This bridge facility ensures financing certainty and flexibility for bond issuance, with a 12-month tenor extendable by six months twice. The term loan, with a five-year amortizing tenor, diversifies SES’s funding sources at attractive rates.

SES has also extended a €1.2 billion revolving credit facility by two years, maintaining a fully committed back-up liquidity facility up to 2028 with 19 banks. CFO Sandeep Jalan expressed delight at the strong support from banking partners, emphasizing the bridge facility’s capital market flexibility and the term loan's long-term financing benefits. SES aims to deliver high-quality video content and data connectivity globally, leveraging its unique GEO-MEO satellite constellation. Headquartered in Luxembourg, SES is listed on the Paris and Luxembourg stock exchanges (Ticker: SESG).

Read More - https://www.techdogs.com/tech-news/business-wire/ses-announces-successful-syndication-and-raising-of-3-billion-acquisition-financing

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