SES Secures €300M Financing from European Investment Bank
12 January 2023 - 2:20AM
Business Wire
- EIB loan will help fund SES’s three fully digital satellites
serving Western Europe, Africa and the Middle East
- Satellites to deliver high-speed broadband and reliable
IP-based streaming services across Europe, in line with the EU
Gigabit Society targets
- Loan to SES is largest amount provided by EIB to a
Luxembourg-based company
The European Investment Bank (EIB), the financing institution of
the European Union, and leading global content connectivity
solutions provider SES announced details of their €300 million
financing agreement today at a press briefing at the SES
headquarters in Betzdorf, Luxembourg. The seven-year term loan will
back investments related to the design, procurement and launch of
three previously announced satellites that will deliver advanced
broadcast and broadband services spanning Western Europe, Africa
and the Middle East. The loan is the largest amount ever provided
by the EIB to a Luxembourg-based company.
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SES Secures €300M Financing from European
Investment Bank (Photo: Business Wire)
The project supported via EIB financing includes the procurement
of three satellites from Thales Alenia Space to deliver video
broadcasting as well as network services. Operating from SES’s
prime TV neighbourhood of 19.2 degrees East (ASTRA 1P, ASTRA
1Q) and 57 degrees East
(SES-26) will enable SES to strengthen
its world-class satellite broadcast over Europe and Africa, and
support dynamic connectivity needs for companies and governments
from the heart of Europe across Africa and the Middle East. Two of
the three satellites are next-generation, flexible and fully
software-defined satellites that will enable service
reconfiguration and instant in-orbit adjustment to SES customers’
demands. All three satellites, when launched in 2024, will be
operated from SES’s headquarters in Luxembourg.
EIB Vice-President Kris Peeters said: “Space technology, data
and services have become indispensable in the lives of Europeans. I
am therefore very enthusiastic about this agreement with SES, which
directly supports the EU space policy. It is a big step in the
successful launch of a new generation of satellites able to deliver
advanced broadcast and broadband services for the benefit of both
the private and public sectors in Western Europe and beyond. Space
is a key driver of innovation in Europe and we are eager to support
space entrepreneurship. The size of the loan, the largest ever
provided by the EIB to a Luxembourgish company, also demonstrates
how strategically important the space sector is for the EIB and the
European Union.”
Sandeep Jalan, Chief Financial Officer of SES, said, “We are
very happy to have secured this term loan from the European
Investment Bank. This diversifies SES’s sources of financing on
attractive financial terms. The agreement enables us to deliver on
our commitment to broadcast high-quality content from our prime TV
neighbourhood serving 118 million TV households across France,
Germany and Western Europe. These next-generation satellites are
also able to support the most ambitious plans for companies and
governments across Europe and beyond, enabling them to enter the
new era of networked connectivity services.”
The transaction follows the EU and EIB commitment to strengthen
their support for European space companies. It is in line with the
Gigabit Society targets of the European Commission that all
households in Europe shall have access to at least 100 Mbps
internet connectivity by 2025.
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About SES
SES has a bold vision to deliver amazing experiences everywhere
on earth by distributing the highest quality video content and
providing seamless connectivity around the world. As the leader in
global content connectivity solutions, SES operates the world’s
only multi-orbit constellation of satellites with the unique
combination of global coverage and high performance, including the
commercially-proven, low-latency Medium Earth Orbit O3b system. By
leveraging a vast and intelligent, cloud-enabled network, SES is
able to deliver high-quality connectivity solutions anywhere on
land, at sea or in the air, and is a trusted partner to the world’s
leading telecommunications companies, mobile network operators,
governments, connectivity and cloud service providers,
broadcasters, video platform operators and content owners. SES’s
video network carries about 8,000 channels and has an unparalleled
reach of 366 million households, delivering managed media services
for both linear and non-linear content. The company is listed on
Paris and Luxembourg stock exchanges (Ticker: SESG). Further
information is available at: www.ses.com.
About the European Investment Bank
The European Investment Bank (EIB) is the long-term lending
institution of the European Union, owned by its Member States. It
makes long-term finance available for sound investment in order to
further EU policy goals. More information on www.eib.org.
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version on businesswire.com: https://www.businesswire.com/news/home/20230111005631/en/
For further information please contact:
Sabine Parisse European Investment Bank Tel. +352 4379 83340,
mobile: +352 621 459 159 s.parisse@eib.org
Suzanne Ong SES, External Communications Tel. +352 710 725 500
suzanne.ong@ses.com
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