EDF : EDF : EDF successfully launches its inaugural hybrid bond issuance

   EDF : EDF : EDF successfully launches its inaugural hybrid bond issuance

This press release and the information contained herein are not being issued
and may not be distributed in the United States of America, Canada, Japan or
Australia.

EDF SUCCESSFULLY LAUNCHES ITS INAUGURAL HYBRID BOND ISSUANCE

· Equivalent €4 billion achieved in € and £ tranches

· US $ tranche to follow

EDF has  today successfully  launched its  inaugural hybrid  bond issuance  in 
euros and sterling:

  o€1.25 billion at 4.25% coupon for the tranche with a 7-year first call
    date
  o€1.25 billion at 5.375% coupon for the tranche with a 12-year first call
    date
  o£1.25 billion at 6% coupon for the tranche with a 13-year first call date

This hybrid bond issuance  has been extremely  well received by  institutional 
investors and was  several times  oversubscribed on each  tranche. As  already 
announced, EDF is  also planning  an inaugural hybrid  tranche in  USD in  the 
coming days.  As  a reminder,  hybrid  capital securities  are  structured  as 
perpetual instruments  and are  subordinated to  all senior  creditors,  which 
explains a higher coupon than senior bonds. Under IFRS, these instruments  are 
classified as equity.

The Group, which uses this financing instrument for the first time,  considers 
it as an optimal  asset liability management tool  given the long duration  of 
its assets and the long lead times of its industrial projects.
EDF has a clear  industrial strategy focused on  regulated activities and  low 
exposure to volatile commodity  markets and has more  than €11 billion^(1)  of 
assets under development which will contribute to future growth.

In that context, by using its hybrid issuance capacity, EDF can strengthen its
capital structure over the investment cycle  in a flexible and cost  efficient 
way. Hybrid bond issuance will also  allow the Group to further diversify  its 
funding sources on the capital markets.

(1) at the end of June 2012

The EDF  Group, one  of  the leaders  in the  European  energy market,  is  an 
integrated energy company  active in  all areas of  the business:  generation, 
transmission, distribution,  energy  supply  and trading.  The  Group  is  the 
leading electricity producer in Europe. In  France, it has mainly nuclear  and 
hydraulic production  facilities  where 96.5%  of  the electricity  output  is 
CO2-free.
EDF's transmission and distribution  subsidiaries in France operate  1,285,000 
km of low and  medium voltage overhead and  underground electricity lines  and 
around 100,000  km  of high  and  very high  voltage  networks. The  Group  is 
involved in  supplying  energy  and services  to  approximately  27.9  million 
customers in France. The Group generated consolidated sales of € 65.3  billion 
in 2011, of which 43.1% was achieved  outside of France. EDF is listed on  the 
Paris Stock Exchange and is a member of the CAC 40 index.

This press  release does  not constitute  an offer  to sell  securities, or  a 
solicitation of an offer to buy securities, in the United States of  America. 
Securities may not be offered or sold  in the United States of America  absent 
registration or an exemption from  registration under the U.S. Securities  Act 
of 1933, as amended (the "Securities  Act"). The securities of Electricité  de 
France SA described herein have not been and will not be registered under  the 
Securities Act, or  the laws  of any  State, and may  not be  offered or  sold 
within the United States or to a U.S. Person, except pursuant to an  exemption 
from, or in a transaction not subject to, the registration requirements of the
Securities Act and applicable State laws.  Electricité de France SA does  not 
intend to register any portion of the offering in the United States or conduct
a public offering of securities in the United States.

CONTACTS
Press
Carole Trivi : +33(1) 40 42 44 19
Analysts et Investors
Kader Hidra & Carine de Boissezon : +33(1) 40 42 45 53
David Newhouse (US investors): +33 (1) 40 42 32 45


Hybrid bond issuance

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Source: EDF via Thomson Reuters ONE
HUG#1672305
 
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