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EDF issues green hybrid bonds for nominal amount of €1.25 billion

October 2025

Client(s) EDF (Electricité de France)

Jones Day represented EDF (Electricité de France) in connection with the new issuance of green perpetual subordinated notes (the “New Notes”) of €1.25 billion bond, at an initial 4.375% coupon until 2031 with a 5.5-year first call date at EDF’s discretion.

This transaction enables EDF to finance its strategy and objective to contribute to achieving carbon neutrality by 2050. An amount equal to the net proceeds of the New Notes will be used to finance and/or refinance investments as defined in EDF’s Green Financing Framework and aligned with the European taxonomy in relation to the lifetime extension of the existing nuclear reactors in France. As a reminder, the carbon intensity of nuclear power plants in France is 4gCO²/kWh.

The New Notes are rated B+/Ba1/BBB- (S&P/Moody’s/Fitch) with an equity content of 50%.

Settlement and delivery took place on 6 October 2025, the date on which the New Notes were admitted to trading on the regulated market of Euronext Paris.

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