Press Release | 05 April 2024

Orange announces the results of its tender offer on outstanding hybrid notes

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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 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.

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About Orange

Orange is one of the world’s leading telecommunications operators with revenues of 39.7 billion euros in 2023 and 128,000 employees worldwide at 30 September 2024, including 71,000 employees in France. The Group has a total customer base of 292 million customers worldwide at 30 September 2024, including 253 million mobile customers and 22 million fixed broadband customers. These figures have been restated to account for the deconsolidation of certain activities in Spain following the creation of MASORANGE. The Group is present in 26 countries (including non-consolidated 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).
For more information on the internet and on your mobile: www.orange.com, www.orange-business.com and the Orange News app or to follow us on X: @presseorange.

Orange and any other Orange product or service names included in this material are trademarks of Orange or Orange Brand Services Limited.