Ses S.a. bonds SESG.PA
Who owns Ses S.a.'s debt and what their own filings say it is worth. Bond prices and yields are fund-reported marks (SEC Form N-PORT) as of Jul 2026; they lag the market by about two months. SESG.PA stock page.
Every bond funds hold
Each bond's latest fund-reported mark. Price per 100 of face value; yield to maturity from price, coupon and maturity; spread over the matched-maturity Treasury for US-dollar bonds.
| Bond | Coupon | Maturity | Ccy | Price | Yield | Spread | Funds | Held | As of |
|---|---|---|---|---|---|---|---|---|---|
| XS0786606789 | 4% fixed | 2027-05-31 | EUR | 100.43 | 3.59% | — | 1 | $118K | Apr 2026 |
| ZQ3268237 | 0.875% fixed | 2027-11-04 | EUR | 96.75 | 3.55% | — | 2 | $446K | Jul 2026 |
| BK1849441 | 2% fixed | 2028-07-02 | EUR | 96.53 | 3.91% | — | 3 | $835K | Jul 2026 |
| BX0411872 | 3.5% fixed | 2029-01-14 | EUR | 98.86 | 3.99% | — | 3 | $4.0M | Jul 2026 |
| L8300GDS7 | 3.5% fixed | 2029-01-14 | EUR | 99.00 | 3.91% | — | 1 | $113K | Jun 2026 |
| L8300GEC1 | 4.13% fixed | 2030-06-24 | EUR | 99.65 | 4.23% | — | 3 | $1.1M | Jul 2026 |
| L8176HAF7 default | 0% fixed | 2033-01-14 | USD | — | — | — | 2 | $18K | Jun 2026 |
| YN4662469 | 4.875% fixed | 2033-06-24 | EUR | 99.93 | 4.88% | — | 4 | $2.2M | Jul 2026 |
| 78413HAB5 | 5.3% fixed | 2043-04-04 | USD | 76.06 | 7.91% | 297 bp | 4 | $15.6M | Jul 2026 |
| L8300GDZ1 | 5.5% fixed | 2054-09-12 | EUR | 99.33 | 5.55% | — | 3 | $960K | Jul 2026 |
| L8300GEA5 | 6% variable | 2054-09-12 | EUR | 98.42 | — | — | 3 | $1.4M | Jul 2026 |
Spread history
Median spread of the US-dollar bonds over Treasuries, month-ends with complete filings. Fund-reported.
Price history
Median fund-marked price across the bonds, per 100 of face value.
By month
Funds file on staggered quarter-ends, so each month-end is marked by the funds that reported for it; the amount held moves with which funds filed, not only with buying and selling.
| Month-end | Bonds | Held | Median price | USD yield | USD spread | Most funds on one bond |
|---|---|---|---|---|---|---|
| Jul 2026 | 8 | $26.5M | 98.64 | 7.91% | 297 bp | 4 |
| Jun 2026 | 7 | $5.4M | 98.99 | 7.58% | 278 bp | 4 |
| May 2026 | 3 | $18.0M | 96.52 | 7.62% | 276 bp | 6 |
| Apr 2026 | 9 | $37.0M | 98.61 | 7.68% | 297 bp | 6 |
| Mar 2026 | 7 | $10.3M | 96.64 | 7.63% | 297 bp | 6 |
| Feb 2026 | 4 | $22.7M | 97.48 | 7.28% | 275 bp | 6 |
| Jan 2026 | 9 | $15.6M | 99.38 | 7.74% | 311 bp | 5 |
| Dec 2025 | 8 | $23.1M | 99.22 | — | — | 5 |
| Nov 2025 | 7 | $29.9M | 96.88 | 7.90% | 338 bp | 7 |
| Oct 2025 | 6 | $10.6M | 103.16 | — | — | 3 |
| Sep 2025 | 8 | $29.8M | 101.42 | — | — | 13 |
| Aug 2025 | 4 | $24.8M | 96.98 | 8.20% | 350 bp | 8 |
| Jul 2025 | 7 | $17.2M | 98.73 | — | — | 6 |
Who holds the debt
Fund series in their latest quarterly N-PORT report, largest first, with the change in face value against each fund's own previous report. Names as reported in the filings. 6 added, 7 cut, 7 new holders and 8 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Allspring Core Plus Bond Fund ALLSPRING FUNDS TRUST | 2026-05-31 | $10.3M | $12.2M | $0 |
| VanEck Fallen Angel High Yield Bond ETF VanEck ETF Trust | 2026-07-31 | $12.3M | $9.4M | $225K |
| iShares Fallen Angels USD Bond ETF iShares Trust | 2026-07-31 | $7.1M | $5.4M | -$1.1M |
| Neuberger Strategic Income Fund NEUBERGER BERMAN INCOME FUNDS | 2026-07-31 | $2.8M | $3.2M | new |
| Muzinich Low Duration Fund Professionally Managed Portfolios | 2026-06-30 | $2.4M | $2.7M | -$1.1M |
| iShares Euro High Yield Corporate Bond USD Hedged ETF iShares, Inc. | 2026-07-31 | $2.2M | $2.5M | $400K |
| Allspring Managed Account CoreBuilder Shares Series CP ALLSPRING FUNDS TRUST | 2026-05-31 | $1.8M | $2.1M | $0 |
| Opportunistic Credit Fund RUSSELL INVESTMENT CO | 2026-07-31 | $1.9M | $2.1M | -$220K |
| BlackRock Multi-Asset Income Portfolio BlackRock Funds II | 2026-07-31 | $877K | $1.0M | $624K |
| JPMorgan International Bond Opportunities ETF J.P. Morgan Exchange-Traded Fund Trust | 2026-05-31 | $830K | $973K | $0 |
| Goldman Sachs Multi-Manager Non-Core Fixed Income Fund Goldman Sachs Trust II | 2026-07-31 | $847K | $961K | -$593K |
| Core Fixed Income Fund MORGAN STANLEY PATHWAY FUNDS | 2026-05-31 | $715K | $846K | $0 |
| JPMorgan Global Bond Opportunities Fund JPMorgan Trust I | 2026-05-31 | $660K | $780K | $0 |
| iShares US & Intl High Yield Corp Bond ETF iShares, Inc. | 2026-07-31 | $450K | $511K | $0 |
| Nuveen High Yield Corporate Bond ETF NuShares ETF Trust | 2026-07-31 | $660K | $500K | -$25K |
| Xtrackers USD High Yield BB-B ex Financials ETF DBX ETF Trust | 2026-05-31 | $640K | $500K | $220K |
| Allspring Income Plus Fund ALLSPRING FUNDS TRUST | 2026-06-30 | $400K | $456K | $0 |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $500K | $393K | new |
| iShares Core Universal USD Bond ETF iShares Trust | 2026-07-31 | $500K | $382K | $450K |
| Fidelity International Bond Index Fund Fidelity Salem Street Trust | 2026-06-30 | $330K | $364K | $0 |
| abrdn High Income Opportunities Fund abrdn Funds | 2026-07-31 | $313K | $359K | -$330K |
| Allspring Core Plus ETF ALLSPRING EXCHANGE-TRADED FUNDS TRUST | 2026-05-31 | $255K | $301K | $0 |
| Allspring Income Plus ETF ALLSPRING EXCHANGE-TRADED FUNDS TRUST | 2026-06-30 | $215K | $245K | $0 |
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $210K | $241K | -$177K |
| Schwab High Yield Bond ETF SCHWAB STRATEGIC TRUST | 2026-05-31 | $300K | $235K | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): abrdn Income Credit Strategies Fund ($10.4M), T. Rowe Price Global Multi-Sector Bond Fund, Inc. ($4.2M), T. Rowe Price International Bond Fund (USD Hedged) ($3.2M), BlackRock Credit Relative Value Fund ($770K), Six Circles Credit Opportunities Fund ($325K), T. Rowe Price International Bond Fund ($316K), iShares 10+ Year Investment Grade Corporate Bond ETF ($175K), BondBloxx BB Rated USD High Yield Corporate Bond ETF ($105K).
ETFs holding these bonds
From each ETF's own latest N-PORT report: the issuer's bonds as a share of the ETF's net assets. A holdings list, not a recommendation.
| ETF | Report | Bonds | Face value | Value | % of net assets |
|---|---|---|---|---|---|
| ANGL VanEck Fallen Angel High Yield Bond ETF | 2026-07-31 | 1 | $12.3M | $9.4M | 0.31% |
| FALN iShares Fallen Angels USD Bond ETF | 2026-07-31 | 1 | $7.1M | $5.4M | 0.33% |
| EUHY iShares Euro High Yield Corporate Bond USD Hedged ETF | 2026-07-31 | 7 | $2.2M | $2.5M | 1.03% |
| JPIB JPMorgan International Bond Opportunities ETF | 2026-05-31 | 2 | $830K | $973K | 0.05% |
| GHYG iShares US & Intl High Yield Corp Bond ETF | 2026-07-31 | 4 | $450K | $511K | 0.26% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 1 | $640K | $500K | 0.02% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 1 | $500K | $393K | 0.00% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 1 | $500K | $382K | 0.00% |
| APLU Allspring Core Plus ETF | 2026-05-31 | 1 | $255K | $301K | 0.07% |
| AINP Allspring Income Plus ETF | 2026-06-30 | 1 | $215K | $245K | 0.11% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 1 | $300K | $235K | 0.01% |
| IHY VanEck International High Yield Bond ETF | 2026-06-30 | 2 | $200K | $229K | 0.53% |
| XHYT BondBloxx USD High Yield Bond Telecom, Media & Technology Sector ETF | 2026-04-30 | 1 | $15K | $12K | 0.07% |
| BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF | 2026-05-31 | 1 | $10K | $8K | 0.00% |
| BNDP VANGUARD CORE-PLUS BOND INDEX ETF | 2026-06-30 | 1 | $2K | $2K | 0.00% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 1.42: safer than 9% of companies (13th percentile in Communication Services). Market-implied, prices to 2026-10-19, balance sheet 2026-06-30.
| Equity value | $1.64B |
| Debt barrier (short-term + ½ long-term debt) | $4.10B |
| Equity volatility (1 year) | 72.0% |
| Asset value / asset volatility (solved) | $5.54B / 22.5% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 297 bp spread prices in about 5.0% a year of default odds (spread ÷ (1 − 40% recovery)). Fund-reported marks as of Jul 2026; the spread also pays for liquidity and risk premium, so this overstates actual defaults.
Accounts: Altman Z
Altman Z'' = 0.29 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
Sources: fund holdings and fund-reported marks from SEC Form N-PORT (published about 60 days after each month-end); 13F filings; House and Senate periodic transaction reports and OGE Form 278-T; Treasury yields from FRED. Findings from filings, not advice. How each number is computed.