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

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:

Currency	Format	Term	Notional	Coupon	Re-offer spread
EUR	Taux fixe	Mai 2029	750 millions	2,75%	m/s + 60 bps
EUR	Format durable à taux fixe	Mai 2035	750 millions	3.50%	m/s + 103 bps

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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