Strong demand for France Télécom bonds

16 Jan 2003

The financial community’s new found confidence in long-dated corporate debt was in evidence again yesterday as France Télécom [NYSE: FTE] received more than EUR14 billion worth of orders for its EUR5.5 billion multi-tranche bond issue. The bonds were priced at 6.14% on the EUR1 billion five-year tranche, 7.33% on the EUR3.5 billion 10-year tranche and 8.19% on the EUR1 billion of 30-year debt. The issue comes a week after investors clamoured for 30-year Euro bonds issued by Italian firm Olivetti.