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General

Orange issues EUR 3 bln hybrid bonds for Jazztel acquisition

Thursday 25 September 2014 | 08:56 CET | News
Orange has announced that it has raised EUR 3 billion towards its proposed acquisition of Spanish broadband operator Jazztel via the hybrid capital market. The company issued the equivalent of EUR 3 billion in hybrid subordinated perpetual bonds on the Euro and Sterling markets. The bonds were issued in three tranches of EUR 1 billion, 1.25 billion and 600 million, offering first call dates of 7, 12 and 8.5 years respectively. Orange said total orders exceeded EUR 11 billion and that the issue allowed it to strengthen its balance sheet at a cost of 4.5 percent, below the average cost of its

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Categories: General
Companies: Jazztel / Orange
Countries: France / Spain
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