Debt and borrowing programs

This page will allow you to access all the information related to the structure of Orano’s debt and borrowing programs.


Documents are published in French and in English. In case of discrepancy between the two versions, the French version shall prevail.

Debt structure

Orano’s consolidated net debt stood at 5.873 billion euros at December 31, 2016, compared with 4.726 billion euros at the end of 2015.

Debt maturity december 31, 2016

Debt structure December 31, 2016

Borrowings by matury december 31, 2016

Borrowings by currency
december 31, 2016

Borrowings by type of interest rate
december 31, 2016

Borrowing programs

In the context of the restructuring, the bond debt of AREVA SA was transferred to Orano by partial contribution of assets on November 10, 2016.

Medium and long-term borrowings : the emtn program

AREVA launched on March 12, 2014 a 750 million euros bond issues due on March 20, 2023 (9-year maturity), with an annual coupon of 3.125%.

On August 29th, 2013, the group announced a tender offer on AREVA notes maturing in 2016 and 2017. This offer ended on September 5, 2013.

Consult the long form results notice for the tender offer on AREVA notes from September 6, 2013 (pdf, 199Ko)

The demand rapidly reached an amount of 3.5 billion euros, leading to the anticipated closure of the order book. This success shows the confidence of investors in AREVA’s strategy and outlook.

This bond issue completes the previous bond issues carried out since 2009, for a total amount of 4.65 billion euros, which are due in 2016, 2017, 2019, 2021 and 2024.

BNP Paribas, HSBC, and Mitsubishi UFJ acted as global coordinators for this bond issue, along with Barclays, Credit Mutuel, GS, Santander and UniCredit as bookrunners.

This operation contributes to strengthening the financing scheme of the group by spreading the amounts of notes by due date.

AREVA launched a 750 million euros bond issues on 8 September 2010 on March 22, 2021 (10-year maturity) with an annual coupon of 3.5%

In 2009, AREVA successfully launched several bond issues.

On October 23, 2009, AREVA launched and priced successfully a 750 million euros bond issue due on November 6, 2019 (10-year maturity) with an annual coupon of 4.375%.

On September 11, 2009, AREVA successfully launched its first bond issue of a 15-year tranche for 1 billion euros maturing in September 2024 (annual coupon: 4.875%).

Summary of bond issues

Medium and long-term borrowings: private placement

AREVA raised on September 5, 2013 JPY 8 billion through a private placement, due on September 2018.

AREVA raised on March 21, 2012 200 million euros through a 10-year private placement towards three French institutional investors, due on March 22, 2022.

Rating

Orano is rated by Standard and Poor’s.
- Long-term rating: BB
- Perspective: positive
- Date of last rating review: July 31, 2017

S&P long-term rating system

Standard & Poor's long-term rating system has 8 categories (AAA, AA, A, BBB, BB, B, CCC and D). The rating is given a + or - to indicate that the company is in the upper or lower end of the category.

The long-term rating relates to borrowings maturing in more than one year.

All of the ratings are supplemented with an "outlook" : this is the rating agency’s opinion on the probable trend in the company’s credit quality. The outlooks are positive (up), stable or negative (down).

S&P short-term rating system

Standard & Poor's short-term rating system has 7 categories: A-1+, A-1, A-2, A-3, B, C and D. The short-term rating relates to borrowings maturing in less than one year.

Contact us

Have a question ? Need clarification ?
Contact the Financial Communication and Investor Relations department.

Financial communication and investor
relations department

Anne-Sophie JUGEAN
1, place Jean Millier - 92400 Courbevoie - FRANCE
Phone : +33 (0)1 34 96 62 41
Email : investors@areva.com