Orange Raises $6 Billion in U.S. Bond Market
The French telecommunications operator has finalized a $6 billion U.S. bond issue, structured in five tranches, with settlement scheduled for January 13, 2026. According to the press release, the operation was oversubscribed by more than eight times.
Successful Bond Issue
Orange has raised $6 billion in the U.S. bond market, as stated in a press release on January 6, 2026. The issue, with settlement-delivery scheduled for the upcoming January 13, consists of five distinct tranches. According to the company, the operation encountered strong investor interest with an oversubscription rate exceeding eight times the sought amount. The average weighted coupon is set at 4.72% with an average maturity of nine years, the release details. This issuance marks Orange's first foray into the U.S. dollar bond market since 2016, as per the company. The operation allows the operator to diversify its credit investor base beyond its traditional geographic areas.
Use of Proceeds
According to the press release, Orange plans to allocate the proceeds from this issuance towards the general needs of the company. The group indicates that these funds may particularly be used for the repayment of certain financial debts of MasOrange, assumed as part of Orange's acquisition of the remaining 50% of this entity's capital. The operation is part of the strategy to manage the group's financial structure, although the release does not specify the exact schedule of the planned repayments.
Company Profile
Orange is among the leading global telecommunications operators, with a revenue of 40.3 billion euros recorded in 2024, according to the press release. The group employed 124,100 people as of September 30, 2025, with 68,000 in France. As of the same date, Orange served 310 million customers, including 270 million mobile customers and 23 million fixed broadband customers. These figures include the deconsolidation of certain activities in Spain related to the creation of MasOrange, the company specifies. The group operates in 26 countries, including non-consolidated countries, and also engages in the telecommunications services segment for multinational corporations under the Orange Business brand. In February 2023, Orange introduced its strategic plan 'Lead the Future', built on a new business model and guided by responsibility and efficiency. Orange's stock is listed on Euronext Paris under the symbol ORA.
