FT closes tender offer; selling 2021 bond

22 Nov 2010

French former monopoly France Telecom (FT) has closed a tender offer for bonds due in 2012 and 2013 and announced the sale of long-term bonds worth EUR750 million (USD1 billion), due in January 2021. An unnamed banker involved in the sale, who wishes to remain anonymous ahead of its completion, said the notes will be priced to yield 85 basis points more than the benchmark mid-swap rate. Bloomberg reports that Societe Generale and BNP Paribas are arranging the tender, while BNP Paribas, Credit Suisse Group and SocGen are managing the bond sale.

France, Orange Group