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EDF: new green bonds successfully raised

(CercleFinance.com) - EDF announced on Tuesday evening that it had successfully raised new perpetual green super-subordinated bonds for an amount of 1.
15 billion euros and 500 million pounds sterling.

This issue of green hybrid securities breaks down into three tranches, including a 500 million euro bond with an initial coupon of 5.125% until 2029, with a redemption option at 5.25 years at the option of the group.

A second E650 million bond will pay a coupon of 5.625% until maturity in 2032, with a redemption option in eight years.

Finally, a £500 million bond, with an initial coupon of 7.375% until maturity in 2035, this time with a redemption option in 11 years.

In a press release, EDF explains that the operation will enable it to finance its strategy and its objective of achieving carbon neutrality by 2050.

The funds are to be used to finance and/or refinance its investments aligned with the European taxonomy, as part of the life extension of existing nuclear reactors in France.

The French utility says that rating agencies are expected to assign 'B+' (S&P), 'Ba1' (Moody's) and 'BBB-' (Fitch) ratings to the new securities, with 50% of the issue amount considered as equity.

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