Core Viewpoint - Orange S.A. has successfully issued €750 million in undated deeply subordinated fixed to reset rate notes with a fixed coupon of 3.875% until the first reset date, aimed at managing its hybrid portfolio and providing liquidity to existing noteholders [1][2][3] Group 1: Issuance Details - The new notes are intended for trading on Euronext Paris and are expected to receive ratings of BBB-/Baa3/BBB- from major rating agencies [2] - The first call date for the new notes is set for March 24, 2032 [1] - The issuance is part of a tender offer to repurchase existing notes, with a maximum acceptance amount not exceeding €750 million [2][3] Group 2: Company Overview - Orange is a leading telecommunications operator with revenues of €40.3 billion in 2024 and a global workforce of 125,800 employees as of March 31, 2025 [10] - The company serves a total customer base of 294 million, including 256 million mobile customers and 22 million fixed broadband customers [10] - Orange operates in 26 countries and is also a significant provider of IT and telecommunications services to multinational companies under the brand Orange Business [11]

Core Viewpoint - Brookfield Renewable has announced the issuance of C$250 million in Fixed-to-Fixed Reset Rate Subordinated Hybrid Notes, maturing on September 10, 2055, with an initial interest rate of 5.373% [1][2]. Group 1: Hybrid Notes Details - The Hybrid Notes will reset every five years starting September 10, 2030, at a rate equal to the five-year Government of Canada yield plus a spread of 2.459% [2]. - The issuance will be conducted under a base shelf prospectus dated September 8, 2023, with the related prospectus supplement dated June 4, 2025, and is expected to close around June 10, 2025 [3]. - This issuance marks Brookfield Renewable's seventeenth green labelled corporate securities issuance in North America and the sixth under its 2024 Green Financing Framework [4]. Group 2: Use of Proceeds - The net proceeds from the Hybrid Notes will be used to fund Eligible Investments as defined in the Green Financing Framework, including repayment of related indebtedness [4]. Group 3: Underwriters - The offering is being managed by a syndicate of underwriters led by Scotiabank, BMO Capital Markets, RBC Capital Markets, CIBC Capital Markets, National Bank Financial Markets, and TD Securities, among others [5]. Group 4: Company Overview - Brookfield Renewable operates one of the largest publicly traded platforms for renewable power, with a portfolio that includes hydroelectric, wind, utility-scale solar, and storage facilities [9]. - The company is part of Brookfield Asset Management, which manages over $1 trillion in assets [11].