Orange issues €500m inaugural sustainability bond

Around 60% of the funds will support energy efficiency and circular economy projects

Telecommunications giant Orange has successfully launched its inaugural sustainability bond totalling €500 million (£455m).

It supports the company’s five-year ‘Engage 2025’ plan, which aims to reinvent and align two commitments towards digital and social inclusion and the fight against climate change.

Around 40% of the funds raised will be allocated for digital and social inclusion projects while the rest of the funds will support energy efficiency and circular economy projects.

Ramon Fernandez, Deputy CEO and Executive Director Finance, Performance and Development said: “This transaction illustrates Orange’s strong commitment towards social and environmental responsibility. I am very proud that Orange enters the sustainability bonds market and that our inaugural issue has attracted significant interest from socially responsible investors.

“As the COVID-19 crisis highlighted the essential nature of telecommunications, we feel necessary to drive our business with the objective to contribute to a more sustainable and fair world.”

The company adds the issuance, which was more than five times oversubscribed, was met with great success from French and international investors.

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