2 x

This is the net debt / EBITDAaL ratio for our telecom operations over the medium term. It reflects our financial resilience and our capacity to invest in the future while meeting our commitments.

 

 
Debt: where do we stand?

Our net debt / EBITDAaL ratio is aligned with our target of around 2x over the medium term.   

Our liquidity position (telecom activities)

The strength of our financial position is reflected in our robust liquidity, ensuring the sustainability of our operations.   

position de liquidité.En
Trusted by credit rating agencies

International credit rating agencies Standard & Poor’s, Moody’s, and Fitch regularly assess the quality of Orange’s financial profile. Their ratings reflect the Group’s financial strength and attest to its reliability.

tableau des agences de notation.En
Green, social, and sustainability bonds

Committed to combining economic performance with a sustainable approach, Orange responsible positioning is reflected in our financing structure.

In 2024, we issued bonds in two tranches for a total of €1.5 billion, including €750 million in sustainable bonds with a 10-year maturity and an annual coupon of 3.50%. For the sustainable tranche, around 50% of funds are allocated to projects with environmental impact, mainly energy efficiency initiatives, and around 50% to projects with social impact, notably accelerating fiber deployment in underserved areas. This initiative is part of the Lead the Future strategic plan and follows our updated sustainable finance framework from November 2024.

 

 

 

EMTN Program

Orange has an ongoing Euro Medium Term Notes (EMTN) issuance program. The base prospectus and all related documentation are available in our Investor Media Library.

 

Buyback of Orange debt securities

Information on Orange’s semi-annual debt securities buybacks can also be found in our Investor Media Library.

Consult our documentation

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