Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 197

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 197
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Acquisition and any related fees, costs and expenses, and to refinance the existing indebtedness of the Intelsat Group. Additionally, the Bridge Facility provides that, following the issuance of new additional debt by SES (including through the TLA
and the issuance of Senior Notes and/or Subordinated Notes), SES is required to cancel the Bridge Facility in an amount equal to such issuances. In particular, SES is required to use the first €1,000,000,000 (or equivalent in other currencies)
of Notes (whether Senior Notes or Subordinated Notes) to cancel the Bridge Facility in an equivalent amount. Pursuant to the terms of the Bridge Facility, the following €625,000,000 of debt raised (after the initial €1,000,000,000 (or
equivalent in other currencies)) does not need to be applied in prepayment or cancellation of the Bridge Facility, but amounts raised thereafter must be so applied.

Hybrid Dual-tranche Bond Offering

On
September 30, 2024, SES S.A. announced the successful launch and pricing of a hybrid dual-tranche bond offering in which it has agreed to sell Deeply Subordinated Fixed Rate Resettable Securities for a total amount of €1 billion. The
settlement took place on September 12, 2024, and the notes are listed on the Luxembourg Stock Exchange. The transaction is composed of a €500 million 30-year Non-Call (NC) 5.25-year tranche with a first reset date on December 12,
2029 and a €500 million 30-year NC 8-year tranche with a first reset date on September 12, 2032. The NC 5.25-year notes will bear a coupon of 5.5% per annum and were priced at 99.473% of their nominal value while the NC 8-year
notes will bear a coupon of 6% per annum and were priced at par.

140

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 SES’s borrowings as of December 31, 2023 and December 31, 2022 are presented below:

| €million                                |     | Effective interest rate |                   |   |     | Maturity |               |     | Amounts           
 outstanding 2023, 
 carried at        
 amortized cost    |       |     | Amounts           
 outstanding 2022, 
 carried at        
 amortized cost    |