Orange prices its 500 million euros deeply subordinated fixed to reset rate notes
Not for distribution in the United States of America.
Orange S.A. successfully priced its issuance of EUR 500m undated 7.5 year non-call deeply subordinated fixed to reset rate notes with a fixed coupon of 1.75% until the first call date.
The notes are scheduled to be admitted to trading on Euronext Paris. It is also expected that rating agencies assign the notes a rating of Baa3/BBB- (Moody's/ S&P) and an equity content of 50%.
Proceeds will be used to general corporate purposes, including the potential refinancing of the EUR 500 million outstanding notes of the EUR 1.0bn deeply subordinated fixed to reset rate notes with first call date on February 7th 2020 (ISIN XS1028600473).
CAUTION: NOT FOR DISTRIBUTION IN THE UNITED STATES
This press release, of a purely informative nature, is not and cannot in any way be construed as an offering to sell any securities, or as a solicitation of any offer to buy securities, in any jurisdiction, including the United States, Japan, Australia, Canada and the United Kingdom. The securities mentioned in this press release have not been and will not be registered pursuant to the US Securities Act of 1933, as modified. They cannot be offered or sold in the United States absent registration or an exemption from registration. No public offer of these securities has been or will be made in the United States or elsewhere.
Orange is one of the world’s leading telecommunications operators with sales of 41 billion euros in 2018 and 148,000 employees worldwide at 30 September 2019, including 88,000 employees in France. The Group has a total customer base of 268 million customers worldwide at 30 September 2019, including 209 million mobile customers and 21million fixed broadband customers. The Group is present in 26 countries. Orange is also a leading provider of global IT and telecommunication services to multinational companies, under the brand Orange Business Services. In December 2019, the Group presented its new "Engage 2025" strategic plan, which, guided by social and environmental accountability, aims to reinvent its operator model. While accelerating in growth areas and placing data and AI at the heart of its innovation model, the Group will be an attractive and responsible employer, adapted to emerging professions.
Orange is listed on Euronext Paris (symbol ORA) and on the New York Stock Exchange (symbol ORAN).
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