SES Launches Cash Tender Offer

SES priced a €500 million Eurobond with a 5.625% coupon, due 2031. Proceeds will fund general corporate purposes and refinance existing debt. The company is rated Ba1 (Moody’s) and BBB- (Fitch). Joint coordinators include BNP Paribas and Goldman Sachs.

SES, a space solutions company, has started building a new satellite manufacturing facility in Luxembourg. The 16,000m² facility, expected to open in 2028, will support the development of next-generation satellite networks and secure communications solutions, including SES’ meoSphere. The project aligns with Luxembourg’s efforts to build a Space Campus and strengthen its space sector.

SES S.A. launched a cash tender offer for its €500M 0.875% notes due 2027, with a purchase price based on a 20 bps spread. The offer aims to manage debt maturity and is subject to issuing new notes. Accepted notes will be canceled post-settlement.

The European Commission and ESA ordered the €15.6B IRIS2 satellite project. Aerospacelab won a €2.4B contract for 264 satellites, beating Airbus. Airbus secured a €500M order for 66 military satellites. Thales Alenia Space will supply payloads. SES ordered 18 MEO satellites from OHB SE for €1B. Eutelsat plans to order 229 more OneWeb satellites from Airbus for €1B.

SpaceX launched the final three satellites for SES's O3b mPower constellation, completing a decade-long project. The satellites will operate in medium Earth orbit, targeting enterprise-grade connectivity. This mission was SpaceX's 29th flight to orbit, with the Falcon 9 rocket successfully landing on a droneship. The O3b mPower constellation, consisting of 13 satellites, complements SpaceX's Starlink network, offering specialized services for commercial and government clients.

SES announced the successful launch of its final three O3b MPower satellites, completing the constellation. The company aims to enhance its non-geostationary orbit (NGSO) satellite fleet, which is crucial for its data and connectivity services.