New Issue: Orange Switzerland prices €155 million 7¾% notes due 2020 at par

By Paul A. Harris

Portland, Ore., Sept. 24 - Orange Switzerland priced a €155 million issue of senior notes due Feb. 15, 2020 at par to yield 7¾% in a quick-to-market transaction on Monday, according to a market source.

The yield printed at the tight end of the 7¾% to 8% yield talk.

Global coordinator and joint bookrunner Credit Suisse will bill and deliver. Deutsche Bank AG was also a global coordinator and joint bookrunner.

UBS, Citigroup, JPMorgan and Morgan Stanley were also joint bookrunners.

The Renens, Switzerland-based telecommunications company plans to use the proceeds to fund a dividend.

Issuer:	Matterhorn Midco & Co. SCA (Orange Switzerland)
Amount:	€155 million
Maturity:	Feb. 15, 2020
Securities:	Senior notes
Bill and deliver:	Credit Suisse
Global coordinators:	Credit Suisse, Deutsche Bank AG
Bookrunners:	Credit Suisse, Deutsche Bank, UBS, Citigroup, JP Morgan, Morgan Stanley
Coupon:	7¾%
Price:	Par
Yield:	7¾%
Spread:	670 bps
First call:	Feb. 15, 2016 at 103.875
Trade date:	Sept. 24
Settlement date:	Oct. 12
Distribution:	Rule 144A and Regulation S for life
Price talk:	7¾% to 8%
Marketing:	Quick to market

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