SES has placed an E650m ten year Eurobond. It was priced at E99.467 with a coupon of 4.625% (Mid-Swap + 135bps).
Bank of America-Merrill Lynch, Barclays Capital, BNP Paribas, Commerzbank and Credit Suisse acted as joint bookrunners.
The bond was 4.5…
SES has placed an E650m ten year Eurobond. It was priced at E99.467 with a coupon of 4.625% (Mid-Swap + 135bps).
Bank of America-Merrill Lynch, Barclays Capital, BNP Paribas, Commerzbank and Credit Suisse acted as joint bookrunners.
The bond was 4.5 times oversubscribed and received orders from nearly 200 investors. The company stated that it placed the bond to take advantage of attractive financing conditions and a strong appetite by investors for corporate bonds.
Asset managers represented 78% of the investor base, while insurers and pension funds took 8%. There was a wide investor spread, breaking down to UK 35%, Germany 31% France 14% and the rest of Europe representing 20%
This placement marks SES’ first action in the debt capital markets since June 2009, when it placed an E650m five year bond.
In the interim period, it secured an E523m export credit guarantee from the French agency COFACE for the funding of a four-satellite package. The company has made concerted efforts to diversify its financing over the past year.
