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France's EDF obtains USD 2bn in proceeds from bond issuance

Author: 401(K) 2012 on Flickr, CC BY-SA 2.0

November 28 (Renewables Now) - French utility Electricite de France SA (EPA:EDF) announced today it has raised some USD 2 billion (EUR 1.82bn) as part of its EMTN (Euro Medium Term Note) programme.

The company issued bonds with a 50-year maturity and a fixed coupon of 4.50% on November 27, it said, adding that the transaction attracted a very diversified investor base at the long end of the credit curve.

EDF noted that the average maturity of the group’s gross debt now amounts to 15.2 years. It did not say how it intends to use the proceeds from the bond issuance.

Also on Thursday, the group announced that its renewable energy subsidiary has secured all of the required financial agreements to begin construction work on the 450-MW Neart na Gaoithe (NnG) offshore wind project in Scottish waters. This happened as Irish state-owned utility Electricity Supply Board (ESB) acquired a 50% stake in the project.

(USD 1.0 = EUR 0.908)

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