(CercleFinance.com) – Orange announces today the results of the tender offer which expired yesterday and relating to its super-subordinated bonds with undated duration not redeemable before 8.5 years bearing interest at a fixed rate resettable by one amount of 600,000,000 pounds sterling with a first early redemption date of April 1, 2023.
The total amount of bonds validly tendered to the takeover offer and accepted amounts to 386,641,000 pounds sterling.
The aggregate nominal amount of bonds outstanding from settlement of the tender offer, which is expected to take place on November 30, will be £39,237,000.
Following settlement of the tender offer, more than 90% of the initial aggregate nominal amount of the bonds will have been purchased by Orange.
Orange intends to redeem all of the bonds remaining outstanding at a price equal to 100% of their principal amount plus any accrued interest and arrears of interest, until the effective date of redemption.
Orange remains fully committed to maintaining super-subordinated bonds as a long-term instrument in its capital structure.
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