Gide Advises Banking Syndicate on Orange's €5 Billion Bond Issuance

"Gide advised the banking syndicate on Orange's €5 billion bond issuance across five tranches maturing 2028–2045. The offering was oversubscribed. Orange intends to use proceeds for general corporate purposes, potentially refinancing existing debt and/or acquiring 50% of MasOrange."

Gide advised the banking syndicate in connection with Orange's €5 billion bond issuance. The transaction comprised a five-tranche public bond offering totalling €5 billion. The first tranche, with a principal amount of €750 million, carries an annual coupon of 2.500% and matures in 2028. The second tranche amounts to €1 billion with a 3.125% annual coupon maturing in 2031. The third tranche totals €1.375 billion with a 3.500% annual coupon maturing in 2034. The fourth tranche also totals €1.375 billion with a 3.750% annual coupon maturing in 2038. The fifth tranche amounts to €500 million with a 4.125% annual coupon maturing in 2045. The issuance was oversubscribed. Orange has stated that it intends to allocate the proceeds to the company's general corporate requirements, which may include refinancing existing debt and/or a potential acquisition of 50% of MasOrange. Gide represented the banking syndicate with a team composed by: Laurent Vincent (partner), assisted by Akim Zellami and Joshua Barathon (collaborators).

Gide Advises Banking Syndicate on Orange's €5 Billion Bond Issuance

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