Press Release
Paris,12 of May 2025

Not for distribution in the United States of America

Orange issued €1.5 billion in the bond market, including a €750 million
sustainable bond

Orange has completed a bond issuance in two tranches for a total amount of €1.5 billion: €750
million for 4 years with an annual coupon of 2.75% and €750 million in sustainable format for 10
years with an annual coupon of 3.50%.

For this sustainable tranche, Orange plans to allocate approximately 50% of the funds raised to
projects with environmental impacts, primarily related to energy efficiency, and about 50% of the
funds raised to projects with societal impacts, mainly related to accelerating the deployment of
fiber optics in areas at risk of exclusion. This is compliant with Orange’s strategic plan objectives
“Lead the Future”, as restated in the sustainable financing framework updated in November 2024.

This dual tranche allows Orange to broaden its investor base and continue its prudent and active
balance sheet management.
Below are the characteristics of the issued bonds:


Re-offer
Currency Format Term Notional Coupon
spread

EUR Taux fixe Mai 2029 750 millions 2,75% m/s + 60 bps

Format
EUR durable à Mai 2035 750 millions 3.50% m/s + 103 bps
taux fixe



The documentation related to this bond issuance is available on our website, under the "Debt and
Rating" section.

Natixis and ING act as Global Coordinators.
Crédit Agricole CIB acts as the Sustainability Structurer.
CaixaBank, Crédit Agricole CIB, La Banque Postale, RBC Capital Markets, SMBC, and Standard
Chartered Bank AG act as Bookrunners.


About Orange
Orange is one of the world’s leading telecommunications operators with revenues of 40.3 billion euros in 2024 and 125,800 employees
worldwide at 31 March 2025, including 69,700 employees in France. The Group has a total customer base of
294 million customers worldwide at 31 March 2025, including 256 million mobile customers and 22 million fixed broadband customers.
These figures account for the deconsolidation of certain activities in Spain following the creation of MASORANGE. The Group is present
in 26 countries (including non-consolidated countries).
Orange is also a leading provider of global IT and telecommunication services to multinational companies under the brand Orange
Business. In February 2023, the Group presented its strategic plan "Lead the Future", built on a new business model and guided by
responsibility and efficiency. "Lead the Future" capitalizes on network excellence to reinforce Orange's leadership in service quality.
Orange is listed on Euronext Paris (symbol ORA).
For more information on the internet and on your mobile: www.orange.com, www.orange-business.com and the Orange News app or to
follow us on X: @orangegrouppr.
Orange and any other Orange product or service names included in this material are trademarks of Orange or Orange Brand Services
Limited.



Contacts presse :
Tom Wright : tom.wright@orange.com


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