EDF: £ 1.25 billion 30-year bond issue
EDF (AA- S&P / Aa3 Moody’s) launched today a 30-year bond issue in sterling pound, for a total amount of £1.25 billion, with a 5.50% annual coupon.
This issue is part of the active financial policy initiated for more than a year by EDF with a view to lengthening the average maturity of the Group’s gross debt. This stands at 9.1 years after this issue against 8.6 as of December 31st 2010, and with no impact on the average cost of debt which stands at 4.2%
In addition, through this issue the Group aims at matching up its long-term debt with its UK long-term business’ earnings, while enjoying favorable market conditions.
EDF is a long-run key player in the UK power market through a strong industrial balanced upstream-downstream position. Given its circa 13 GW of installed capacity, of which 9 GW nuclear, and the extension plan of its nuclear plants’ lifespan, EDF Energy is the number one power producer and the leader in low-carbon electricity generation in the UK. This position is balanced by a portfolio of over 5.5 million customers’ accounts over all segments, which gives it the leading position in electricity supply.
EDF will continue its investments in the UK participating in the development of the supply of cleaner energy.
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