Orange goes green again with second €500m bond

Orange goes green again with second €500m bond

Ramon Fernandez CFO Orange.jpg

Orange has successfully launched a sustainability bond issue for a total amount of €500 million to finance projects that reflect its ambitions in green and social fields.

This brings the group’s total in money raised through sustainability bonds by Orange CFO Ramon Fernandez (picture) to €1 billion, following an inaugural transaction in September 2020.

The company said this was part of its Engage 2025 strategic plan, which commits it to digital inclusion, social inclusion, and the fight against climate change.

Orange intends to allocate half of the funds raised into digital and social inclusion projects and half to energy efficiency and circular economy projects.

The bond issue consists of a total nominal of €500 million, with a maturity of 10 years and an annual coupon of 2.375%. The issue was more than five times oversubscribed.

The projects selected and the allocation process will be overseen by Orange’s sustainability financing committee. The allocation will be audited each year, and investors will receive a yearly update on the impacts of investments.

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