The European Union wants its own Low Earth orbiting mega-constellation of satellites for its citizens, and separate from the offerings from Elon Musk, OneWeb or Canada’s Lightspeed. The EU invited a consortium of industry suppliers to come up with a fast-track LEO scheme and Dominic Hayes, spectrum manager for the EU’s space programme at the […]
Intelsat’s Chapter 11 bankruptcy court denied Intelsat’s Motion (Ref: 1774 of March 31st) to compel SES to produce its communications with Hogan Lovells US LLP, who were the legal advisers to the C-Band Alliance for both Intelsat and SES. The hearing was held on May 17th and the court denied in its entirety the Intelsat […]
SES has issued a €625 million hybrid bond priced at a coupon of 2.875 per cent with a reset date of August 27th 2026. SES says the instrument’s credit ratings are expected to be Ba1/BB with Moody’s and Standard & Poor’s respectively. “Proceeds of the issuance will be used for general corporate purposes which includes […]
Investment bank Berenberg has issued a report on the state of play at satellite operator SES. The bank says that with SES no longer separating its revenue splits between services and distribution (“which have notably different margin profiles”) they do not know what drove the operator’s Q1 results. The bank gives its forecasts on future […]
SES Government Solutions, which says it is working in “close partnership [with] a key US government customer”, has confirmed an order for its O3b fleet of Medium Earth orbiting (MEO) satellites. The order is worth $11.8 million but this is a portion of a much larger value ‘Blanket Purchase Agreement’ worth $516.7 million set aside […]
Reporting on Intelsat’s Chapter 11 reconstruction is not helped by the slew of daily Motions and Filings made to the company’s bankruptcy court, nor by the conflicting arguments lodged by the varied interested parties. Yours truly is assisted in this revision by a source close to the action. There are two important strands: The first […]
Intelsat’s bankruptcy court ordered that a mediator be appointed to try and find more common ground between the disputing pair. That has now happened. SES and Intelsat informed the court on May 11th that the two litigants met on April 29th and agreed both the appointment and scope of the referees authority. The two parties […]
The first-quarter results from satellite operator SES were buoyant, and helped by a commitment to buy in €100 millions-worth of its own shares for cancellation helped boost SES’s share price by almost 10 percent. At the end of the day the shares were up 9.3 per cent to – a still miserable in some eyes […]
SES used its Q1 results statement to announce a €100 million share buy-back programme, declaring that it had made a strong start to this financial year. Its currently all-important Video division is moving steadily forward. SES has seen Video revenues grow from a minus 8 per cent overall y-o-y fall to a minus 4.6 per […]
Satellite operator SES has secured a US government contract for its Government Solutions division. The contract award is worth $35 million and will supply connectivity in support of a major US Department of Defense combatant command. SES, in its statement, said: “[The contract] provides reach-back capabilities from forward-stationed units in remote locations to Europe, the […]