French incumbent Orange has priced €850m of five-year notes at 99.67 and €650m of 11-year notes at 99.376.
The larger offering carries a coupon of 1.875%, 60 basis points over mid-swaps, and will yield 1.945%.
The €650m tranche has a 3.125%…
French incumbent Orange has priced €850m of five-year notes at 99.67 and €650m of 11-year notes at 99.376.
The larger offering carries a coupon of 1.875%, 60 basis points over mid-swaps, and will yield 1.945%.
The €650m tranche has a 3.125% coupon and priced at 100 basis points above the spread.
Bank of America, Credit Agricole, RBC and RBS are lead managers on both issues which were rated A3 by Moody’s.
The sales are expected to be completed on 3 September, and he notes will be listed in Paris.
Orange last hit the debt market in late March when it issued €750m notes set to mature in October 2019.
