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France Telecom-Orange raises EUR 1 billion 10-year bonds at 3%
TT Correspondent |  |  12 Jun 2012

France Telecom-Orange has closed a EUR 1 billion bond issue in order to take advantage of the decrease in interest rates since mid March.

Thanks to an abundant EUR 4.8 billion order book, this transaction allows the Group to continue to increase the average maturity of its debt while reducing its average cost, with a 3.00% coupon.

The terms of the transaction are as follows:

 

Amount: EUR1 billion Maturity: June 15, 2022 Coupon: 3.00% Reoffer Price: 99.642 Payment Date: June 15, 2012 Spread: 122 basis points over midswaps Debt Ratings: A3 (Moody's) A- (Standard & Poor's) A- (Fitch) Listing: Paris Interest: Annual.

    
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12 Jun 2012(IST)  
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