Orange: the group raised 4.1 billion euros in bonds
The telecommunications operator placed on September 8, 2026 a bond issue in four fixed-rate tranches, which it presents as an illustration of market confidence in its strategic plan called Trust the future.
Orange carried out a bond issue in euros for a total nominal amount of 4.1 billion euros, divided into four fixed-rate tranches.
The first tranche is for 1.25 billion euros maturing in September 2029, with a coupon of 3.625% (mid-swap + 45 basis points). The second is for 1 billion euros maturing in September 2032, with a coupon of 4% (mid-swap + 75 basis points).
The third tranche amounts to 1.1 billion euros maturing in September 2035, with a coupon of 4.25% (mid-swap + 98 basis points). The fourth is for 750 million euros maturing in September 2038, with a coupon of 4.5% (mid-swap + 113 basis points).
Order book of 16 billion euros and allocation of funds
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The group indicates that it recorded a global order book of 16 billion euros on this transaction, which it presents as an illustration of the strength of its profile and market confidence in its strategic plan Trust the future.
Orange intends to allocate the funds raised to the general needs of the company. HSBC and Société Générale acted as global coordinators. Citi, Deutsche Bank, HSBC, ING, J.P. Morgan, La Banque Postale, Mizuho, Natixis and Société Générale acted as lead managers of the placement.
Ces excellentes performances nous permettent aujourd'hui de relever nos objectifs annuels
Risks mentioned
Orange Business en repli de -3,1 %, toujours pénalisé par un environnement de marché difficile
EBITDAaL d'Orange Business en baisse de -6,4 % sur le semestre
Endettement net porté à 35,7 milliards d'euros, ratio dette/EBITDAaL à 2,4x après MasOrange
Opportunities identified
Contrôle exclusif à 100 % de MasOrange renforçant la position en Espagne
Projet d'acquisition conjointe de SFR pour environ 5,6 milliards d'euros de part Orange
Croissance à deux chiffres en Afrique et Moyen-Orient (+13,9 % de chiffre d'affaires)
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
