(Boursier.com) — EDF successfully launched a hybrid bond issue denominated in euros for an amount of 1 billion euros, with a coupon of 7.5% and a 6-year call option at the option of the company.
The company may redeem the New Notes in cash at any time during the 90-day period preceding the first interest reset date, which is six years from now, and on each coupon payment date thereafter. Although the New Notes are perpetual, they may be redeemed at any time due to withholding tax, tax deduction or surcharge, change in rating methodology, an accounting change, a substantial takeover or exercise of the make-whole clause.
The amount of the new issue has been calibrated such that the total nominal value of the hybrid capital outstanding does not decrease by more than 10% after the redemption of the USD Hybrid Bond series. The company reaffirms its commitment to hybrid bond financing as a permanent component of its capital structure.
Consequently, following the successful issuance of these New Notes, the company announces its intention to exercise its option to redeem in full on January 29, 2023 the USD Hybrid Notes, which are admitted to trading on the regulated market of the Stock Exchange. of Luxemburg. If the company proceeds with the redemption, the holders of the USD Hybrid Bonds will be formally notified in accordance with the Terms and Conditions of the USD Hybrid Bonds.
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