French electricity operator EDF announced on Tuesday that it had successfully placed a $2.05 billion senior bond issue to refinance upcoming debt maturities.

The issue was made up of three tranches, including a $650 million bond with a five-year maturity and a fixed coupon of 5.65%.

EDF also raised $650 million over 10 years with a coupon of 5.95% and $750 million over 40 years with a fixed coupon of 6%.

In a press release, the utility explains that it regularly assesses its financing needs, while monitoring domestic and international financial markets to identify opportunities for debt issuance.

The funds raised through the transaction should enable it to continue strengthening its balance sheet structure, as well as to meet upcoming refinancing deadlines.

The expected rating for the bonds is 'BBB' at S&P, 'Baa1' at Moody's and 'BBB+' at Fitch.

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