Satellite operator SES has closed a renewed €1.2 billion revolving credit facility, a move that the firm said strengthened the liquidity of the company.
The five-year credit facility includes two one-year extension options and was arranged by 20 banks – including Bank of China, Credit Suisse, Deutsche Bank Luxembourg and Barclays.
“We are pleased to have secured this financing, which further strengthens our liquidity profile. The successful conclusion of this credit agreement reflects the market’s view of SES as a strong investment grade credit, and underlines our ability to secure funding on attractive terms,” said SES chief financial officer, Padraig McCarthy.
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