Orange plans early redemption of remaining $1.22 billion 4.375% notes

By Marisa Wong

Madison, Wis., Jan. 30 - Orange SA (previously France Telecom) plans to redeem its outstanding $1,215,000,000 principal amount of 4.375% notes due July 2014, according to a press release.

The company expects to redeem the notes on March 11 at a redemption price equal to the greater of (i) par and (ii) the sum of the present values of the remaining scheduled payments of principal and interest discounted to the redemption date on a semiannual basis at the Treasury rate plus 30 basis points.

The Paris-based telecommunications company said it will also pay accrued interest up to, but not including, the redemption date.

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