press release
Paris, January 29, 2014
Not for distribution in the USA
Orange announces the issuance of hybrid bonds for 2.8 billion euros
Orange issued today an equivalent of 2.8 billion euros of hybrid subordinated perpetual bonds on the Euro and Sterling markets, in three tranches:
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1 billion euros offering a 4.25% coupon with a 6-year first call date
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1 billion euros offering a 5.25% coupon with a 10-year first call date
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650 million pounds sterling (circa 0.8 billion euros) offering a 5.875% coupon (4,95% after swaps in euro) with an 8-year first call date
Investors have expressed a strong interest, with total orders over 15 billion euros.
The bonds will be accounted as equity under IFRS rules. This issue allows Orange to strengthen its balance sheet at a cost of 4.90%, in line with the average cost of its existing bonds.
about Orange
Orange is one of the world's leading telecommunications operators with sales of 43.5 billion euros in 2012 and had 166,000 employees worldwide at 30 September 2013, including 102,000 employees in France. Present in 32 countries, the Group had a total customer base of more than 232 million customers at 30 September 2013, including 175 million mobile customers and 15 million fixed broadband customers worldwide. Orange is also a leading provider of global IT and telecommunication services to multinational companies, under the brand Orange Business Services.
Orange is listed on the NYSE Euronext Paris (symbol ORA) and on the New York Stock Exchange (symbol ORAN).
For more information: www.orange.com, www.orange-business.com and on Twitter: @orange, @orangegrouppr, @orangebusiness.
Orange and any other Orange product or service names included in this material are trade marks of Orange Brand Services Limited.
Press contacts: +33 1 44 44 93 93
Sébastien Audra, sebastien.audra@orange.com
Olivier Emberger, olivier.emberger@orange.com
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.
