France Telecom completes $2 billion bond offering

Client(s) France Telecom

Jones Day advised France Telecom, one of the world's leading telecommunications operators, in connection with its issuance of $1 billion aggregate principal amount of 2.750% Notes due 2016 and $1 billion aggregate principal amount of 4.125% Notes due 2016 in a public offering, underwritten by Merrill Lynch, Pierce, Fenner & Smith Incorporated; Citigroup Global Markets Inc.; and J.P. Morgan Securities LLC.

Using its existing automatic shelf registration statement, available to well-known seasoned issuers registered with the SEC, France Telecom, a French company listed on NYSE and Euronext Paris, was able to quickly and easily access the U.S. market. France Telecom seized a window of opportunity in the U.S. dollar bond market to continue to extend the maturity of its debt while diversifying still further its funding sources.