Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 213

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 213
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 undrawn syndicated multi-currency revolving credit facility of €1,200 million renewed in 2021 and valid until 2026 and fully undrawn financing facility from European Investment Bank of €300 million. Separately, SES has a €625 million Deeply Subordinated Fixed Rate Resettable Securities with 2.875% coupon (treated as 50% debt & 50% equity) with first call date in August 2026. Borrowings Indebtedness of SES (relating to the Acquisition of Intelsat) SES has obtained financing for the Acquisition under the Bridge Facility and the TLA. The availability period of the Bridge Facility, during which funds may be drawn down under the Bridge Facility, is the period from April 30, 2024 to and including April 28, 2026. Any funds drawn down under the Bridge Facility must be used to finance all or part of the purchase price of the 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