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EDF COMPLETES ITS INAUGURAL HYBRID BOND OFFERING, TO RAISE MORE THAN ?6 BILLION IN TOTAL

·       Successful pricing of additional USD 3 billion offering

·       Largest ever combined corporate hybrid offerings across all three currencies(1)

EDF has today successfully priced a USD 3 billion hybrid bond offering, adding to the offerings of hybrid capital securities in euros and sterling earlier this week. The combined offerings will allow the group to raise the equivalent of approximately ?6.2 billion in total across all three currencies, which will represent the largest corporate hybrid issuance ever achieved:

  • USD 3 billion at 5.25% coupon with a 10-year first call date(2)
     
  • ?1.25 billion at 4.25% coupon for the tranche with a 7-year first call date(3)
     
  • ?1.25 billion at 5.375% coupon for the tranche with a 12-year first call date(3)
     
  • £1.25 billion at 6% coupon for the tranche with a 13-year first call date(3)

Each of the offerings met with a very strong level of interest from institutional investors and was several times oversubscribed. The strong demand came from investors in the US, in Asia, in the United Kingdom and in Continental Europe, allowing the group to diversify geographically its investor base.


Thomas Piquemal, Group Chief Financial Officer says "Our inaugural hybrid bond issuance was very well received by institutional investors, with all four offerings several times oversubscribed. We will manage to raise ?6.2 billion providing flexibility in financing our industrial strategy while achieving a lower cost of capital."


(1) Source: Dealogic/Bloomberg

(2) Separate offering under Rule 144A/Regulation S

(3) Under its Regulation S EMTN program



The EDF Group, one of the leaders in the European energy market, is an integrated energy company active in all areas of the business: generation, transmission, distribution, energy supply and trading. The Group is the leading electricity producer in Europe. In France, it has mainly nuclear and hydraulic production facilities where 96.5% of the electricity output is CO2-free.

EDF's transmission and distribution subsidiaries in France operate 1,285,000 km of low and medium voltage overhead and underground electricity lines and around 100,000 km of high and very high voltage networks. The Group is involved in supplying energy and services to approximately 27.9 million customers in France. The Group generated consolidated sales of ? 65.3 billion in 2011, of which 43.1% was achieved outside of France. EDF is listed on the Paris Stock Exchange and is a member of the CAC 40 index.

This press release does not constitute an offer to sell securities, or a solicitation of an offer to buy securities, in the United States of America.Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The securities of Electricité de France SA described herein have not been and will not be registered under the Securities Act, or the laws of any State, and may not be offered or sold within the United States or to a U.S. Person, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable State laws.  Electricité de France SA does not intend to register any portion of the offering in the United States or conduct a public offering of securities in the United States.

CONTACTS

Press

Carole Trivi : +33(1) 40 42 44 19

Analysts et Investors

Kader Hidra & Carine de Boissezon : +33(1) 40 42 45 53

David Newhouse (US investors) : +33(1) 40 42 32 45


EDF completes its inaugural hybrid bond offering:
http://hugin.info/143450/R/1673116/544608.pdf


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