Orange borrows USD 1.25 billion, at a negative rate after hedging in euro
Not for distribution in the United States of America nor in Japan
Orange has agreed to sell USD 1.25 billion of notes due 2019 in a registered public bond offering in the United States of America, with a coupon of 1.625% and a negative interest rate after hedging in euro of -0.15%.
Interest rate after hedging in euro
US Treasury Bond + 67 bps
BofA Merrill Lynch, J.P. Morgan, Morgan Stanley and MUFG are acting as bookrunners for the offering.
The Group takes advantage of favorable market conditions to optimize its average cost of debt and intends to pursue its opportunistic refinancing policy.
CAUTION: NOT FOR DISTRIBUTION IN THE UNITED KINGDOM
This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) in the United Kingdom to qualified investors (as defined in the Prospectus Directive) who are (a) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (b) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). The notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such notes will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
Orange is one of the world’s leading telecommunications operators with sales of 40,9 billion euros in 2016 and 155,000 employees worldwide at 31 December 2016, including 96,000 employees in France. Present in 29 countries, the Group has a total customer base of 263 million customers worldwide at 31 December 2016, including 202 million mobile customers and 18 million fixed broadband customers. Orange is also a leading provider of global IT and telecommunication services to multinational companies, under the brand Orange Business Services. In March 2015, the Group presented its new strategic plan “Essentials2020” which places customer experience at the heart of its strategy with the aim of allowing them to benefit fully from the digital universe and the power of its new generation networks.
Orange is listed on Euronext Paris (symbol ORA) and on the New York Stock Exchange (symbol ORAN).
Orange and any other Orange product or service names included in this material are trademarks of Orange or Orange Brand Services Limited.