SES SA (SESGFP)

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C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
HYC	COMM	PRCD	SESGFP	SES SA	$1,000		2	EMEA	Sep 5, 2024

Tranche #1SES SA

currency

USD

size (m)

500.000

maturity

Sep 12, 2054

type

Fixed

tenor

30.000

call

registration

Reg S Only

benchmark

YLD

ranking

Subordinated

moody's

Ba2

s&p

fitch

BB+

size description

re-open/tap

ipt

6.125% a

ipt-pxd

guidance

5.750% a

spread

coupon

5.50%

spread set

price

99.47300

yield

5.625%

book size (m)

1,700

peak book (m)

x-covered

3.4

book attrition

nic

left lead

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

book size (m)

1,700

peak book (m)

x-covered

3.4

book attrition

nic

left lead

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

Tranche #2SES SA

currency

USD

size (m)

500.000

maturity

Sep 12, 2054

type

Fixed

tenor

30.000

call

registration

Reg S Only

benchmark

YLD

ranking

Subordinated

moody's

Ba2

s&p

fitch

BB+

size description

re-open/tap

ipt

6.50% a

ipt-pxd

guidance

6.125% a

spread

coupon

6.00%

spread set

price

100.00000

yield

6.00%

book size (m)

1,500

peak book (m)

x-covered

book attrition

nic

left lead

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

book size (m)

1,500

peak book (m)

x-covered

book attrition

nic

left lead

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

Tranche Comments

30 yr: Book size: 1700; Redemption: 2029-09-12; Registration: Reg S Only; Comments: EUR500m 30NC5.25 hybrid bmk RegS. Ba2/NR/BB+. GloCos/actives DB(log)/MS(B&D), actives BNPP/Citi/HSBC/SMBC. Feedback NC5.25 mid 5s-6%. IPTs 6.125% area. Guidance 5.750% area (+/-12.5 WPIR) for 500m. Launch 5.625%. Final MS+323.2. Final books 1.7bn+, (peak 2.25bn+). DBR 2.1% 11/15/29 B+353.1 @ 100.024 px. FTT 7:30 am Sep 6. Tax Call: Yes. Reset Date: 2029-12-12. Par Call: 3m. Cleanup Call: 75%. MWC: B+50bps. Regulatory Call: Yes. CoC: Yes. LEI: 5493008JPA4HYMH1HX51; 30 yr: Book size: 1500; Redemption: 2032-09-12; Registration: Reg S Only; Comments: EUR500m 30NC8 hybrid bmk RegS. Ba2/NR/BB+. GloCos/actives DB(log)/MS(B&D), actives BNPP/Citi/HSBC/SMBC. Feedback NC8 +0.375%. IPTs 6.5% area. Guidance 6.125% area (+/-12.5 WPIR) for 500m. Launch 6%. Final MS+358.6. Final books 1.5bn+ (peak 1.9bn+). DBR 1.7% 08/15/32 B+390.9 @ 97.169 px. FTT 7:30 am Sep 6. Tax Call: Yes. MWC: B+50bps. Regulatory Call: Yes. CoC: Yes. LEI: 5493008JPA4HYMH1HX51;

Deal Comments

Hybrid Bond

Guarantor(s)

SES Americom Inc

Use of Proceeds

General Corporate Purposes

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sector/subsector profiles

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SES SA (SESGFP)

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