SES plans euro-denominated hybrid bonds via seven bookrunners

By Rebecca Melvin

Concord, N.H., May 19 – SES SA plans to price euro-denominated perpetual subordinated resettable securities (expected ratings: Ba1/BB), according to a notice published by the London Stock Exchange.

The first reset date is five years after issuance. The fixed-rate securities are guaranteed by SES Global Americas Holdings GP, and they will be listed on the Luxembourg Stock Exchange.

Managers of the deal are J.P. Morgan AG, MUFG, BNP Paribas, Goldman Sachs International, HSBC, Mizuho and IMI – Intesa San Paolo.

Proceeds from this issuance will be used to refinance the €750 million hybrid bonds callable in January 2022 and issued in June 2016.

The satellite and terrestrial telecommunications network provider is based in Betzdorf, Luxembourg.

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