SES has renewed its €1.2 billion ($1.36 billion) revolving credit facility with a bank group led by BNP Paribas, Commerzbank Aktiengesellschaft Luxemburg Branch, Mizuho Bank Europe and Societe Generale

The facility is for general corporate purposes and has been structured as a five-year, multi-currency revolving credit facility with an option to extend until 2026 (5+1+1). The margin for the new facility is 40 basis points (for a Baa2/BBB rating) above EURIBOR and is five basis points inside the pricing of the former syndicated and committed credit facility closed in January 2014.

“This financing further strengthens our liquidity profile and has been secured at improved terms. I am particularly pleased with the strong level of support received from existing lenders which highlights SES’ strong investment grade credit fundamentals and demonstrates our continuing and ongoing ability to secure funding on attractive terms,” said Andrew Browne,CFO of SES.

Members of the 19 bank syndicate are: Agricultural Bank Of China Luxembourg Branch; Bank Of China, Luxembourg Branch; Banco Bilbao Vizcaya Argentaria, London Branch; Banque Et Caisse D’epargne De L’etat, Luxembourg; BNP Paribas Fortis; Commerzbank Aktiengesellschaft, Luxemburg Branch, Deutsche Bank Luxembourg; Goldman Sachs Bank; Landesbank Hessen-Thüringen Girozentrale; HSBC Bank, ING Luxembourg; Intesa Sanpaolo Bank Luxembourg– Amsterdam Branch; J.P. Morgan Securities; Landesbank Baden-Württemberg; Mizuho Bank Europe; MUFG Bank; Natwest Markets; Sumitomo Mitsui and Société Générale.

SES is the world’s leading satellite operator with over 70 satellites in two different orbits, Geostationary Orbit (GEO) and Medium Earth Orbit (MEO).