EDF Issues First US Bonds

摘要

French power giant EDF has issued its first bonds in the US, while Italy's Eni has mandated four banks as bookrunners for a large eurobond.EDF's $5 billion bonds consist of a five-year tranche of $1.25 billion with a 5.5% coupon and 2014 maturity; a 10-year tranche of $2 billion at 6.5% maturing in 2019; and a 30-year tranche of $1.75 billio at 6.95%, maturing in 2039. Demand exceeded supply by almost 80% (IOD Jan.22,p8). EDF said this, plus recent eurobond issues, will help early repayment of loans incurred acquiring British Energy, a deal cleared by the European Commission on Dec. 22 (IOD Dec.9,p8).