UPDATE 2-SES Q1 core profit rises, keeps 2009 guidance

* Q1 core profit 308.9 mln euros vs 301 mln euros forecast

* Repeats 2009 forecast

* Signs 2 bln euro syndicated credit facility

(Adds detail on loan facility)

BRUSSELS/LONDON, April 24 (Reuters) - European satellite company SES SESFg.LU(SESFd.PA) reported a 12.2 percent rise in first-quarter core profit, maintained its 2009 forecast and announced a 2 billion euro ($2.6 billion) credit facility.

SES, the world's second-largest satellite operator, which has previously said it was barely feeling any pain from the economic crisis, said on Friday that earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 308.9 million euros, beating the 301 million average estimate in a Reuters poll of nine analysts.

Finance director Mark Rigolle told reporters SES's new syndicated credit facility, signed on Thursday, increased the company's borrowing capabilities more than it had initially expected.

"It's larger than we'd originally intended," Rigolle said.

"This helps us ensure liquidity for a longer period than we'd hoped," he added, noting also the financial conditions and spreads of the deal were attractive when compared with other bond issues of similar durations.

The arranging banks announced in a statement on Friday the three-year revolving credit facility was increased from 1.5 billion euros after an oversubscription in syndication.

Depending on the borrower's rating, the transaction pays a margin of 230 basis points (bps) in year one, stepping up to 250 bps in year two, paying 275 bps in year three, a banking source close to the deal said.

The loan also pays a commitment fee of 40 percent of the applicable margin, he added.

Net debt at the end of the first quarter was 3.5 billion euros, SES said.

SES, which sells transmission capacity to the likes of BSkyB (BSY.L), Canal Plus (CNLP.PA), Premiere PREGn.DE and NBC, repeated its forecast of revenue growth between 3 and 4 percent on a like-for-like basis and an 82 percent margin for its main infrastructure business.

SES has previously said it was barely feeling any pain from the economic crisis. [ID:nLC829694]

Consumers were tending to spend more time at home, and their spending on television had not significantly changed.