French power operator Electricite de France SA (EDF.FR) Wednesday said it launched Tuesday a bond issue in two tranches, in euros and sterling pounds.
- The euro tranche, with a 15-year maturity, amounted EUR1 billion, with a 4.125% coupon.
- The sterling pound tranche, with a 25-year-maturity, amounted GBP500 million, with a 5.5% coupon.
- The issue is part of the active financial policy initiated by EDF with a view to lengthening the average maturity of the Group's gross debt. This stands at 9.4 years after this issue against 9.2 years as of Dec.31, 2011, while maintaining unchanged the Group's average cost of debt at 4.3%.
- In addition, through this issue the Group aims at matching up its long-term debt with its French and UK's long term business' earnings (the Group's main markets) while enjoying favorable market conditions.
- By Paris Bureau, Dow Jones Newswires; +331-4017-1740; [email protected]