EDF Plans Hybrid Bonds Redemption and Launches Partial Tender Offer

EDF, rated BBB+ by S&P and Fitch, and Baa1 by Moody’s, has revealed its plan to exercise the option to redeem its existing hybrid bonds. These bonds, carrying a nominal value of €850 million, were initially issued on July 15, 2020. The redemption is set for December 15, 2026, marking their first call date as stipulated in the initial bond terms.

In addition, EDF has initiated a partial tender offer targeting its €1.25 billion perpetual subordinated social notes. These notes are scheduled for a possible redemption by EDF on December 1, 2027. This tender offer will be restricted by the nominal amount of the new issue less the nominal amount of the existing hybrid bonds.

The result of this partial tender offer will be disclosed on September 15, 2026, although this date may change if the offer undergoes any adjustments or extensions.