SES may seek to make further repurchases of its Securities from time to time, subject to market conditions.
SES has announced the open-market repurchase of 99,978,000 in principal amount of its 625,000,000 Deeply Subordinated Fixed Rate Resettable Securities, originally issued on May 27, 2021. In line with the terms and conditions of the securities, the repurchased amount will be cancelled.
As a result of this transaction, the remaining principal amount of the securities now stands at 525,022,000. Payments related to the securities will continue to be processed through Clearstream, Luxembourg and Euroclear, following standard procedures.
This move highlights SES’s financial flexibility and robust cash generation, as the company reduces its debt obligations. SES has also indicated the possibility of additional repurchases in the future, depending on market conditions.
The company clarified that this announcement does not represent an offer to buy, sell, or solicit the purchase or sale of the securities or any other financial instruments.
