According to the company, it says that with the transaction, which was oversubscribed more than five times, it has taken advantage of the current attractive market conditions to further strengthen its liquidity profile ahead of a €650 million senior debt maturity in March of next year and issued a bond with the lowest coupon in the company’s history.
It adds that Goldman Sachs, HSBC, JP Morgan, MUFG, SMBC Nikko and Société Générale acted as joint bookrunners.
Furthermore, the settlement is scheduled for November 4, 2019 and application has been made for the notes to be listed on the Luxembourg Stock Exchange. The securities were placed with a broad range of institutional investors across Europe.
Commenting on the launch, Andrew Browne, CFO of SES, said: “We are pleased to have secured this financing which allows us to proactively refinance an upcoming debt maturity at more favourable terms. The successful conclusion of this bond offering reflects the market’s view of SES as a strong investment grade credit, and underlines the ability of SES to secure funding at attractive terms.”