PR Orange: Orange announces the results of its tender offer on outstanding hybrid notes
Press release
Paris, 5 April 2024
NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA
Orange announces the results of its tender offer on outstanding hybrid notes
Orange S.A. announces today the results of a tender offer launched on March 27, 2024 (the Tender Offer) to repurchase part of two Series of outstanding undated non-call deeply subordinated fixed to reset rate notes, as follows:
- In respect of its €1 billion Undated 6 Year Non-Call Deeply Subordinated Fixed to Reset Rate Notes with first reset date on 15 April 2025 and admitted to trading on Euronext Paris (ISIN FR0013413887) (the NC 2025 Existing Notes);
a) the aggregate principal amount validly tendered is €647,400,000;
b) the NC 2025 Existing Notes Series Acceptance Amount is €549,700,000;
c) the NC 2025 Existing Notes Tender Price is 98.60%;
d) the remaining outstanding principal amount of the NC 2025 Existing Notes following the settlement of the Tender Offer will be €450,300,000;
- In respect of its €1.25 billion Undated 12 Year Non-Call Deeply Subordinated Fixed to Reset Rate Notes with first reset date on 1st October 2026 and admitted to trading on Euronext Paris (ISIN XS1115498260) (the NC 2026 Existing Notes),
a) the aggregate principal amount validly tendered is €444,619,000;
b) the NC 2026 Existing Notes Series Acceptance Amount is €150,000,000;
c) the NC 2026 Existing Notes Tender Price is 102.418%;
d) the remaining outstanding principal amount of the NC 2026 Existing Notes following the settlement of the Tender Offer will be €1,100,000,000.
The settlement of the Tender Offer is expected to occur the 10 April 2024.
About Orange
Orange is one of the world’s leading telecommunications operators with revenues of 44.1 billion euros in 2023 and 137,000 employees worldwide at 31 December 2023, including 73,000 employees in France. The Group has a total customer base of 298 million customers worldwide at 31 December 2023, including 254 million mobile customers and 25 million 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. In February 2023, the Group presented its strategic plan "Lead the Future", built on a new business model and guided by responsibility and efficiency. "Lead the Future" capitalizes on network excellence to reinforce Orange's leadership in service quality.
Orange is listed on Euronext Paris (symbol ORA) and on the New York Stock Exchange (symbol ORAN).
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Orange and any other Orange product or service names included in this material are trademarks of Orange or Orange Brand Services Limited.
Press contacts:
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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.
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