Orange: prices hybrid subordinated notes
(CercleFinance.com) - Orange has announced that it has priced 1 billion euro, undated, 6-year non-call, deeply subordinated fixed to reset rate notes.
These new notes will be admitted to trading on Euronext Paris. The rating agencies are also expected to assign them ratings of Baa3/BBB- (Moody's/S&P), with an equity content of 50%.
The telecom operator says that it has launched a tender offer to partially repurchase some of its outstanding hybrid undated notes. The maximum acceptance amount of the Tender Offer is expected to be equal to the principal amount of the New Notes.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
These new notes will be admitted to trading on Euronext Paris. The rating agencies are also expected to assign them ratings of Baa3/BBB- (Moody's/S&P), with an equity content of 50%.
The telecom operator says that it has launched a tender offer to partially repurchase some of its outstanding hybrid undated notes. The maximum acceptance amount of the Tender Offer is expected to be equal to the principal amount of the New Notes.
Copyright (c) 2019 CercleFinance.com. All rights reserved.