Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 234

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 234
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%–1.75% for Base Rate loans, in each case, depending on the leverage ratio of Intelsat Jackson. The 2029 Term Loans have a SOFR floor of 0.50% and a Base Rate floor of 1.50%, and the Revolving Loans have a SOFR floor of 0.00% and a Base Rate floor of 1.00%. The 2022 Intelsat Jackson Secured Credit Agreement includes customary negative covenants for loan agreements of this type, including covenants limiting the ability of Intelsat Jackson and certain of its subsidiaries to, among other things, incur additional indebtedness, create liens on assets, make investments, loans or advances, engage in mergers, consolidations, sales of assets and acquisitions, pay dividends and distributions and make payments in respect of subordinated indebtedness, in each case subject to customary exceptions for loan agreements of this type. Intelsat Jackson was in compliance with such covenants as of December 31, 2024. The 2022 Intelsat Jackson Secured Credit Agreement also includes certain customary representations and warranties, affirmative covenants and events of default, including, but not limited to, payment defaults, breaches of representations and warranties, covenant defaults, certain events under the Employee Retirement Income Security Act of 1974, as amended, and change of control. The foregoing description of the 2022 Intelsat Jackson Secured Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the 2022 Intelsat Jackson Secured Credit Agreement. Intelsat Jackson made principal payments on the 2029 Term Loans of $386.2 million for the ten months ended December 31, 2022, with no similar payments for the two months ended February 28, 2022. During the year ended December 31, 2023, the total remaining balance of $2.8 billion associated with the 2029 Term Loans was paid in full. Contracted Backlog Intelsat benefits from strong visibility of its future revenues. Intelsat’s contracted backlog is its expected future revenue under existing customer contracts and includes both cancelable and non-cancelablecontracts. As of December 31, 2024, Intelsat’s contracted backlog was approximately $4.2 billion, which it expects to earn a weighted average remaining customer contract life of approximately 2.9 years. Intelsat expects to deliver services associated with approximately