SES Announces Final Results of Tender Offer, Accepting €326.9 Million in Subordinated Securities
The Purchase Price the Offeror will pay for those Securities accepted for purchase pursuant to the Offer is 99.25 per cent. of their principal amount, and the Offeror will also pay an Accrued Interest Payment in respect of such Securities.
SES (the “Offeror”) announces today the results of its invitation to holders of its outstanding €625,000,000 Deeply Subordinated Fixed Rate Resettable Securities (ISIN: XS2010028343) (the “Securities”) to tender their Securities for purchase by the Offeror for cash up to the Maximum Acceptance Amount subject to the satisfaction (or waiver) of the New Issue Condition (such invitation, the “Offer”).
The Offer was announced on 11 March 2026 and was made on the terms and subject to the conditions contained in the tender offer memorandum dated 11 March 2026 (the “Tender Offer Memorandum”) prepared by the Offeror. Capitalised terms used but not otherwise defined in this announcement shall have the meanings given to them in the Tender Offer Memorandum.
The Expiration Deadline for the Offer was 5.00 p.m. (CET) on 25 March 2026 (being the original Expiration Deadline for the Offer of 18 March 2026, as extended pursuant to the announcement of the Offeror dated 17 March 2026). As at the Expiration Deadline, the Offeror had received valid tenders of €326,984,000 in aggregate principal amount of the Securities for purchase pursuant to the Offer.
The Offeror announces that it has decided to set the Final Acceptance Amount at €326,984,000 and, further confirms the satisfaction of the New Issue Condition following the issuance of the New Securities on 24 March 2026. The Offeror therefore announces that it will accept for purchase all Securities validly tendered pursuant to the Offer in full, with no pro rata scaling.
The Purchase Price the Offeror will pay for those Securities accepted for purchase pursuant to the Offer is 99.25 per cent. of their principal amount, and the Offeror will also pay an Accrued Interest Payment in respect of such Securities.
Payment of the Purchase Price and Accrued Interest for the relevant Securities pursuant to the Offer is expected to take place on 27 March 2026, after which €198,038,000 in aggregate principal amount of the Securities will remain outstanding. The Offeror intends to cancel those Securities accepted for purchase pursuant to the Offer.
