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Orange FV (Exp. EU500m Long 10Y; Baa1/BBB+/BBB+)

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  • IPT given at MS+120bps; FV looks around MS+82.5bp.
  • Orange last issued in Sept 2023 in a EUR 500mn 12yr deal that tightened 35.5bps to price at MS+72bps with a cover of 3.9x

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  • IPT given at MS+120bps; FV looks around MS+82.5bp.
  • Orange last issued in Sept 2023 in a EUR 500mn 12yr deal that tightened 35.5bps to price at MS+72bps with a cover of 3.9x