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Betzdorf - Nov 06, 2003 The world's biggest fixed satellite services operator SES Global has issued its inaugural benchmark eurobond. The five-year, EUR 500 million transaction was well received by the market, being more than six times oversubscribed when the book closed on Monday evening. The issue was subsequently priced at 80 basis points over mid-swaps. The bookrunners were Citigroup, Deutsche Bank, Dresdner Kleinwort Wasserstein, and Societe Generale. The proceeds of the issue are being used to repay the remaining drawings under the syndicated loan facility which was established in 2001 for the purpose of funding the acquisition of GE Americom. J¿rgen Schulte, Chief Financial Officer of SES Global, commented: "This transaction establishes SES Global in the European public debt capital markets. It follows our recent 1 billion USD private placement in the US markets and completes the refinancing of the Group. The maturity profile of our debt has been optimised to meet existing funding needs and provide us with the flexibility to continue our development". Walter Dilewyns, Group Treasurer of SES Global, added: "This 'debut' bond issue marks a significant point in the Group's financing strategy. We have secured medium and long term funding from various financing sources, at attractive rates with a range of maturities, giving us a solid foundation to meet the Group's funding requirements in the future." SES Global was born out of the combination of ASTRA, Europe's leading provider of satellite capacity for direct-to-home reception, and Americom, one of America's leading Fixed Satellite Services operators. SES ASTRA and SES Americom are the operating companies of SES Global. Additional holdings by SES Global are held in regional satellite service providers AsiaSat and Americom Asia-Pacifica in Asia, Star One and Nahuelsat in Latin America, and NSAB in Europe. Approximately 95 percent of the world's population live within the footprints of the SES Global satellite network comprising 41 satellites covering the globe. Community Email This Article Comment On This Article Related Links SES Global SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express The latest information about the Commercial Satellite Industry
Stratos Steps Closer To Xantic Acquisition
Bethesda MD (SPX) Jan 5, 2006Stratos Global recently announced it had taken a step closer toward the completion of the acquisition of Xantic, having received positive advice from the Works' Council in the Netherlands, and executed a definitive agreement to purchase Xantic from KPN and Telstra Corporation. |
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