Monitor the company's future debt refinancing strategy and capital structure changes, as this tender offer indicates active liability management. The remaining 198 million EUR in securities could be targeted in future offers.
Price Chart
Executive Summary
SES S.A. completed a cash tender offer for its deeply subordinated securities, purchasing 326,984,000 EUR of the 625,000,000 EUR outstanding securities at 99.25% of face value. The company will cancel the repurchased securities, leaving 198,038,000 EUR outstanding. This is a liability management action to reduce debt.
Key Facts
- SES completed a cash tender offer for its 625,000,000 EUR deeply subordinated fixed rate resettable securities
- 326,984,000 EUR of securities were validly tendered and accepted for purchase
- Purchase price was 99.25% of principal amount plus accrued interest
- Payment occurred on March 27, 2026, with repurchased securities to be canceled
- 198,038,000 EUR of securities will remain outstanding after the offer
Financial Impact
326,984,000 EUR
Risk Factors
- Potential future dilution if the company issues new securities to manage remaining debt
- Interest rate risk on the remaining 198 million EUR of subordinated securities
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001193125-26-127604 |
| Document: d121204dex991.htm | 0001193125-26-127604 |
| Document: 0001193125-26-127604-index-headers.html | 0001193125-26-127604 |
| Document: 0001193125-26-127604-index.html | 0001193125-26-127604 |
| Document: 0001193125-26-127604.txt | 0001193125-26-127604 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | 6-K | $4.68 $4.19 | ▼ −10.47% | ▼ −10.33% | $4.65 (−0.64%) |
Sep 30, 2026 26d ago | 6-K | $4.94 $4.68 | ▼ −5.26% | ▼ −7.18% | $4.65 (−5.87%) |
Sep 24, 2026 4w ago | 6-K | $5.27 $4.65 | ▼ −11.76% | ▼ −11.35% | $4.65 (−11.76%) |
Sep 15, 2026 5w ago | 6-K | $5.20 $5.46 | ▲ +5.00% | ▲ +4.18% | $4.65 (−10.58%) |
Aug 18, 2026 9w ago | 6-K | $6.43 $5.82 | ▼ −9.49% | ▼ −9.29% | $4.65 (−27.68%) |
Aug 10, 2026 11w ago | 6-K | $6.16 $6.21 | ▲ +0.81% | ▲ +0.86% | $4.65 (−24.51%) |
Jul 31, 2026 12w ago | 6-K | $6.52 $6.20 | ▼ −4.91% | ▼ −8.42% | $4.65 (−28.68%) |
Jul 28, 2026 12w ago | 6-K | $8.01 $6.40 | ▼ −20.10% | ▼ −24.21% | $4.65 (−41.95%) |
Jun 18, 2026 18w ago | 6-K | $8.40 $7.33 | ▼ −12.74% | ▼ −10.36% | $4.65 (−44.64%) |
May 13, 2026 23w ago | 6-K | $9.22 $9.00 | ▼ −2.39% | ▼ −1.23% | $4.65 (−49.57%) |
US Market Status
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