Press release: Orange signs an agreement for a Sustainability-linked refinancing of its €6bn syndicated credit facility with 27 banks
23 Novembro 2022 - 04:45PM
Press release: Orange signs an agreement for a
Sustainability-linked refinancing of its €6bn syndicated credit
facility with 27 banks
Paris, 23 November 2022
Orange signs an agreement for a
Sustainability-linked refinancing of its €6bn syndicated credit
facility with 27 banks
Orange signed today with 27 international banks a
new Sustainability-linked multi-currency EUR 6 billion syndicated
revolving facility in order to refinance in advance the existing
facility expiring December 2023.
This Sustainability-linked refinancing reflects
the Group's commitments in terms of environmental and social
responsibility, as the margin is linked to the achievement of
sustainability targets relating to CO2 emissions (Scopes 1 & 2,
Scope 3), supporting its aim to become Net Zero Carbon by 2040, and
gender diversity.
Commenting on this announcement, Ramon Fernandez,
Group Chief Financial Officer, said:
“This refinancing is part of the Group’s prudent
liquidity management, and the high oversubscription demonstrates
the strong support of Orange’s core relationship financial
partners. Through this Sustainability-linked transaction, we
reaffirm Orange’s strong social and environmental commitments which
are at the center of its Purpose, and our ambition to tie our
financing policy with our CSR strategy”.
The new facility, which has an initial November
2027 maturity, includes two one-year extension options. Such
extension options can be exercised by Orange and are subject to the
banks’ approval.
This refinancing is secured at attractive
conditions, with an opening margin of 25 basis points per year. A
Sustainability-linked adjustment will provide for a maximum
discount or premium of 2.25 basis points.
For this transaction, Crédit Agricole Corporate
and Investment Bank acted as ESG Coordinator and Facility Agent.
Bank of America and Natixis acted as Documentation Agents and
Coordinators. The credit facility has been committed by 27 leading
global financial institutions, among which the same pool as the
previous facility who reconfirmed their support to Orange, and
three additional international banks in order to reflect Orange’s
business evolution.
About Orange
Orange is one of the world’s leading
telecommunications operators with sales of 42.5 billion euros in
2021 and 136,500 employees worldwide at 30 September 2022,
including 75,000 employees in France. The Group has a total
customer base of 286 million customers worldwide at 30 September
2022, including 240 million mobile customers and 24 million fixed
broadband customers. The Group is present in 26 countries. Orange
is also a leading provider of global IT and telecommunication
services to multinational companies under the brand Orange Business
Services. In December 2019, the Group presented its
"Engage 2025" strategic plan, which, guided by social and
environmental accountability, aims to reinvent its operator model.
While accelerating in growth areas and placing data and AI at the
heart of its innovation model, the Group will be an attractive and
responsible employer, adapted to emerging professions.
Orange is listed on Euronext Paris (symbol ORA)
and on the New York Stock Exchange (symbol ORAN).
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 Twitter: @orangegrouppr.
Orange and any other Orange product or service
names included in this material are trademarks of Orange or Orange
Brand Services Limited.
Press contact:
Tom Wright: tom.wright@orange.com ; +33 6 78 91
35 11
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