In line with SES’s firm commitment to maintaining investment-grade status, the company has secured deferred payment terms with the vendors taking part in the satellite programs associated with the accelerated clearing, ahead of reimbursement by the clearinghouse. SES intends to place the vast majority of this investment with US suppliers. The SES Board of Directors has approved an investment envelope of $1.6bn which includes the procurement and launch of new satellites and other equipment and services – expenses that are reimbursable through the program Clearinghouse. SES will file the election on May 26, ahead of the May 29 FCC deadline.Īccelerated clearing, including the migration of existing customers, is an important and resource-intensive process for the current C-band users. SES has elected to clear a portion of the C-band spectrum in the United States in accordance with the accelerated timeline detailed in the US Federal Communications Commission (FCC) Order published in the Federal Register on April 23, 2020. SES will make substantial investments with US companies to meet accelerated clearing goal and support America’s global leadership in 5G.
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