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Orange announces results of benchmark transition consent solicitation
Chicago, Nov. 15 – Orange announced that its consent solicitation was successful in terms of passing an extraordinary resolution to move the benchmark basis for its £600 million undated 8.5-year non-call deeply subordinated fixed-rate reset notes (ISIN: XS1115502988) to Sonia from Libor, according to a press release.
The company held a meeting at 5 a.m. ET on Nov. 15.
The meeting was quorate and the extraordinary resolution was passed and the eligibility condition was satisfied.
The amendment deed went into effect on Monday.
In addition to modifying the interest rate provisions to switch to Sonia, benchmark fallback provisions for Sonia were also added.
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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