By Aleesia Forni
Virginia Beach, Jan. 30 - Orange SA priced a $1.6 billion two-part issue of notes (Baa1/BBB+/), according to an informed source and two separate FWP filings with the Securities and Exchange Commission.
The sale included $750 million of 2.75% five-year notes priced with a spread of Treasuries plus 125 basis points, or 99.916 to yield 2.768%.
A second tranche was $850 million of 5.5% notes due 2044 sold at 187.5 bps over Treasuries.
Pricing was at 99.621 to yield 5.526%.
BofA Merrill Lynch, Deutsche Bank Securities Inc., RBS Securities Inc., Mitsubishi UFJ Securities (USA) Inc. and J.P. Morgan Securities LLC were the joint bookrunners.
Proceeds will be used to repay the company's 4.375% notes due July 8, 2014, with any remaining proceeds to be used for general corporate purposes.
Orange is a Paris-based telecommunications company.
| Issuer: | Orange SA
|
| Issue: | Notes
|
| Amount: | $1.6 billion
|
| Joint bookrunners: | BofA Merrill Lynch, Deutsche Bank Securities Inc., RBS Securities Inc., Mitsubishi UFJ Securities (USA) Inc., J.P. Morgan Securities LLC
|
| Trade date: | Jan. 30
|
| Settlement date: | Feb. 6
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
|
|
| Notes due 2019
|
| Amount: | $750 million
|
| Maturity: | Feb. 6, 2019
|
| Coupon: | 2.75%
|
| Price: | 99.916
|
| Yield: | 2.768%
|
| Spread: | Treasuries plus 125 bps
|
| Make-whole call: | Treasuries plus 20 bps
|
|
|
| Notes due 2044
|
| Amount: | $850 million
|
| Maturity: | Feb. 6, 2044
|
| Coupon: | 5.5%
|
| Price: | 99.621
|
| Yield: | 5.526%
|
| Spread: | Treasuries plus 187.5 bps
|
| Make-whole call: | Treasuries plus 30 bps prior to Aug. 6, 2043, then callable at par
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
