International law firm Freshfields Bruckhaus Deringer has advised leading global satellite operator SES on its debut $1bn Yankee bond. Consisting of $750m 3.6% notes due 2023 and $250m 5.3% notes due 2043, the transaction is reflective of strong activity levels in the Capital Markets, Freshfields itself having advised on eight deals*, with a combined value of almost US$6.3bn, in the last three weeks alone.

SES has a fleet of 52 geostationary satellites and provides satellite communications services to broadcasters, content and internet service providers, mobile and fixed network operators and business and governmental organisations worldwide.

Commenting on the deal, Sarah Murphy, co-head of the firm’s international capital markets group said: ‘Providing it with access to the largest capital market in the world, SES’s inaugural Yankee bond is clearly of strategic and long-term importance to the company. It is also representative of a trend we are seeing, where European corporates are increasingly attracted to raising funds in the US, largely as a result of the uncertainty that remains within the Eurozone’.

The Freshfields team advising SES consisted of Freshfields corporate partner Sarah Murphy and associates Charity Trelease and Megan Castellano in London and partner Claude Stansbury and associate Dennis Caracristi advising on the US tax aspects of the transaction.

* Freshfields’ recent capital markets activity includes:

- Advising on the £211m IPO of cable, wire and components management solutions provider HellermannTyton, led by partners Chris Mort and Doug Smith 

- Ukrainian agricultural business MHP SA  on its $750m high yield bond and $350m cash tender offer, led by partners Sarah Murphy and Sebastian Lawson

- Indonesian department store operator PT Matahari Department Stores Tbk on its $1.3bn offering of Matahari shares, led by partners Stephen Revell and Ken Martin

- Russian steel pipe producer TMK on its $500m loan participation note issue, led by partners Peter Allen and  Stuart Grider

- Ukrainian agro-industrial company UKRLANDFARMING PLC on its $275m bonds, led by  partners Don Guiney and Sebastian Lawson

- advising on the €1bn sell-down of shares in cable operator Ziggo N.V., led by partner Sarah Murphy

- advising Russian steel and mining company Severstal on the update of its loan participation notes programme and drawdown of $600m, led by partners Peter Allen and Don Guiney

http://www.freshfields.com/en/deals/Freshfields_advises_SES_on_its_$1bn…