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Prospect News home > News index > List of issuers O > Headlines for Orange > News item
Published on 10/22/2021 in the Prospect News Liability Management Daily.

Orange solicits consents to move to Sonia basis on subordinated notes

Chicago, Oct. 22 – Orange is soliciting consents from noteholders of its £600 million undated 8.5-year non-call deeply subordinated fixed-rate reset notes (ISIN: XS1115502988) to amend the interest rate provisions, a company release announced on Friday.

The company wants to modify the terms and conditions to change the basis of interest to Sonia from Libor, and then also include benchmark fallback provisions for Sonia.

Valid consent instructions are due by noon ET on Nov. 10.

There will be a teleconference on Nov. 15 at 5 a.m. ET.

The solicitation agent is NatWest Markets NV (+31 2 04 64 27 55, NWMLiabilityManagement@natwestmarkets.com).

The tabulation agent is Lucid Issuer Services Ltd. (+44 20 7704 0880, orange@lucid-is.com, https://deals.lucid-is.com/organge).

Orange is a telecommunications company based in Paris.


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