Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for Orange SA > News item |
Orange posts results of tender offer for three series of hybrid notes
By Wendy Van Sickle
Columbus, Ohio, Oct. 14 – Orange SA announced the results of its tender offer to repurchase three series of its outstanding hybrid notes, according to a news release.
The company offered to purchase its €500 million outstanding undated seven-year-non-call deeply subordinated fixed-to-reset-rate notes with a first call date on Oct. 1, 2021 (ISIN: XS1115490523); its £650 million undated eight-year-non-call notes with a first call date on Feb. 7, 2022 (ISIN: XS1028597315); and its £600 million undated 8.5-year-non-call notes with a first call date on April 1, 2023 (ISIN: XS1115502988).
The company said it received and accepted tenders for €381,627,000 of the 2021 notes at a price of 104.47.
It received and accepted tenders for £222,898,000 of the 2022 notes at 105.978.
Orange received tenders for £218.4 million of the 2023 notes and accepted tenders of £39,122,000 of those notes at a price of 110.098 and a proration factor of 20.416%.
Following the settlement of the offer, €118,374,000 of the 2021 notes; £427,102,000 of the 2022 notes; and £560,878,000 of the 2023 notes will remain outstanding.
The company said the purpose of the tender offer and the issuance of new notes is to proactively manage its hybrid portfolio.
Orange is a telecommunications company based in Paris.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.