Overall, the successful transaction underscores strong market confidence in Orange’s credit profile and strategic direction, while reinforcing the group’s financial flexibility as it continues to pursue growth opportunities and strategic acquisitions.
Orange has successfully priced a multi-tranche bond issuance totaling 6 billion US dollars, marking a significant return to the US dollar debt market for the group. The transaction, which is scheduled to settle and be delivered on January 13, 2026, was structured across five tranches and attracted strong investor demand, being more than eight times oversubscribed at peak levels.
According to the company, the proceeds from the bond issuance will be used for general corporate purposes. This includes the potential repayment of certain outstanding debts related to MasOrange, which Orange is set to assume following its acquisition of the remaining 50% stake in MasOrange.
The issuance carries a weighted average coupon of 4.72% and an average maturity of nine years, reflecting favorable financing conditions for the group. Orange noted that this is its first US dollar bond issuance since 2016, allowing the company to further diversify its investor base and strengthen its pool of credit investors.
Orange emphasized that the bond offering was targeted at institutional and qualified investors only, in line with applicable securities regulations. The company clarified that the securities were not offered to retail investors and were not registered under the US Securities Act, with no public offering conducted in the United States, Canada, Australia, or Japan.
Overall, the successful transaction underscores strong market confidence in Orange’s credit profile and strategic direction, while reinforcing the group’s financial flexibility as it continues to pursue growth opportunities and strategic acquisitions.
