EDF: €2 billion bond issue with a maturity in excess of 10 years
EDF (A+- S&P / Aa3 Moody’s/ A+ Fitch) launched today a 10.5-year bond issue in euros, for a total amount of € two billions, with a 2.75% annual coupon.
The annual coupon of this new issue (2.75%) is to be compared with the current annual average coupon of 4.1% of the Group gross debt (as of 30 June 2012). The pro forma maturity stands at 8.7 years as of 30 June 2012 after this new issue and is part of the active financial policy initiated by EDF.
This issue will allow in particular to refinance future debt redemptions at Edison, while benefiting from favorable market conditions. It also shows European investors’ trust in EDF’s Group.
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