TDF INFRASTRUCTURE – PROSPECTUS FINAL – 5 AVRIL 2016

Prospectus dated 5 April 2016

TDF Infrastructure S.A.S., a société par actions simplifiée organised under the laws of France (the “Issuer”), is offering €800,000,000 aggregate principal amount of 2.50 per cent. bonds due 2026 (the “Bonds”) to be issued on 7 April 2016 (the “Issue Date”). The Bonds will bear interest at a rate of 2.50 per cent. per annum from (and including) the Issue Date, payable annually in arrear on 7 April, commencing on 7 April 2017. The rate of interest is subject to adjustment in the event of a Step Up Event or a Step Down Event, as defined in and more fully described in “Terms and Conditions of the Bonds – Interest”.

Unless previously redeemed or purchased and cancelled, the Bonds will be redeemed in full at their principal amount on 7 April 2026 (the “Maturity Date”).

The Bonds may, and in certain circumstances shall, be redeemed, in whole but not in part, at their principal amount together with accrued interest in the event that certain French taxes are imposed (See “Terms and Conditions of the Bonds—Redemption and Purchase—Redemption for Taxation Reasons”).

More

TDF INFRASTRUCTURE BONDS – 15 OCTOBER 2015

Prospectus dated 15 October 2015

TDF Infrastructure S.A.S., a société par actions simplifiée organised under the laws of France (the “Issuer”), is offering €600,000,000 aggregate principal amount of 2.875 per cent. bonds due 2022 (the “Bonds”) to be issued on 19 October 2015 (the “Issue Date”). The Bonds will bear interest at a rate of 2.875 per cent. per annum from (and including) the Issue Date, payable annually in arrear on 19 October, commencing on 19 October 2016. The rate of interest is subject to adjustment in the event of a Step Up Event or a Step Down Event, as defined in and more fully described in “Terms and Conditions of the Bonds – Interest”.

Unless previously redeemed or purchased and cancelled, the Bonds will be redeemed in full at their principal amount on 19 October 2022 (the “Maturity Date”).

The Bonds may, and in certain circumstances shall, be redeemed, in whole but not in part, at their principal amount together with accrued interest in the event that certain French taxes are imposed (See “Terms and Conditions of the Bonds—Redemption and Purchase—Redemption for Taxation Reasons”).

More