Investing.com — Satellite operator SES SA has taken steps to bolster its bonds, which have recently been under pressure due to increasing competition, notably from Elon Musk’s Starlink. This move has led to a notable recovery in its debt.
The Luxembourg-based company has successfully completed a buyback of its perpetual bonds worth €625 million ($661 million), purchasing €100 million ($105 million) worth. The bonds saw a significant rise, increasing by as much as 4 cents on the euro to reach 92 cents on Friday. This surge has helped recover a large portion of the substantial losses they suffered earlier in the month.
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