SES Successfully Prices EUR 625 Million Hybrid Bond Offering
Friday, May 21, 2021 1:23PM IST (7:53AM GMT)
Luxembourg:
SES S.A. announced the successful launch and pricing of a hybrid bond offering in which it has agreed to sell Deeply Subordinated Fixed Rate Resettable Securities for a total amount of EUR 625 million, with a first reset date on 27 August 2026. The notes will bear a Coupon of 2.875% per annum and were priced at 99.409% of their nominal value.
SES Successfully Prices EUR 625 Million Hybrid Bond Offering (Photo: Business Wire)
The instrument’s credit ratings are expected to be Ba1/BB with Moody’s and Standard & Poor’s respectively. The hybrid bonds issued by SES are non-dilutive instruments that are expected to receive 50% equity credit by both rating agencies and be classified as equity under IFRS. Proceeds of the issuance will be used for general corporate purposes which includes th
SES S.A. announced the successful launch and pricing of a hybrid bond offering in which it has agreed to sell Deeply Subordinated Fixed Rate Resettable Securities for a total amount of EUR 625 million