USD 1.4 billion of debt refinanced at lower rates, generating EUR 60 million of annual financial costs savings from 2017 

LUXEMBOURG - Thursday, January 12th 2017 [ME NewsWire]

(BUSINESS WIRE)-- SES S.A. (Euronext Paris:SESG) (LuxX:SESG) today announced the refinancing of the remaining O3b debt.

Since acquiring the remaining shares in O3b, SES has refinanced the entire USD 1.4 billion of gross debt at a materially lower average funding rate. This will deliver a total of approximately EUR 60 million of annual finance cost savings, starting from 2017.

The refinancing was funded using cash that was available at Group level, which included the proceeds of the hybrid bond issued by SES S.A. in November 2016. SES's weighted average cost of funding is around 4%, which is significantly lower than the average cost of the previous O3b debt.

“The early completion of the O3b debt refinancing is an important source of value creation fo ... Read more »

 - Collaboration to Develop a Novel Biologics Platform with the Potential to Improve the Therapeutic Utility of T-cell Redirection Therapy for the Treatment of Cancer -

BRISBANE, Calif. & CAMBRIDGE, Mass. & OSAKA, Japan - Wednesday, January 11th 2017 [ME NewsWire]

- Takeda Invests $125 Million in Maverick, Including Exclusive Option-to-Acquire -

(BUSINESS WIRE)-- Maverick Therapeutics Inc., an MPM Capital portfolio company, and Takeda Pharmaceutical Company Limited (TSE:4502) announced today that they have entered a collaboration to develop Maverick’s T-cell engagement platform created specifically to improve the utility of T-cell redirection therapy for the treatment of cancer. The $125 million of funding includes an upfront option, equity and research and development funding payments, and provides Takeda the exclusive right to purchase Maverick after five years for an undisclosed sum. Maverick was founded in 2016.

“We believ ... Read more »