EDF Successfully Issues Multi-Tranche Green Hybrid Bonds

EDF has announced a successful multi-tranche green hybrid bond issuance, totaling a nominal amount of €1.15 billion and £500 million. This issuance, dated 10 September 2024, comprises three different bonds:

• A €500 million bond at a 5.125% coupon rate, callable in 5.25 years.

• A €650 million bond at a 5.625% coupon rate, callable in 8 years.

• A £500 million bond at a 7.375% coupon rate, callable in 11 years.

The transaction supports EDF's strategy for achieving carbon neutrality by 2050. The proceeds will be allocated to projects defined in EDF's Green Financing Framework, particularly for extending the lifetime of existing nuclear reactors in France, which have a low carbon intensity of 4gCO²/kWh.

Rating agencies are expected to assign the new bonds a B+/Ba1/BBB- rating with a 50% equity content.