Clifford Chance has advised a group of banks on multiple EDF bond issuances with a market value totalling almost €5 billion, including two U.S. dollar denominated bonds listed on the Taipei Exchange ("Formosa Bonds"), a Euro-denominated Green Bond issuance and a Euro-denominated senior vanilla notes issuance under its €45,000,000 Euro Medium Term Note Programme.

1. A total of U.S.$ 2.655 billion was raised through the two senior Formosa Bonds on 21 October 2016:

    Issue of U.S.$ 491 million 4.65% fixed rate Notes due 21 October 2046 with HSCB as Lead Manager and Bookrunner, Standard Chartered Bank (Taiwan) Limited as Manager, Bookrunner and Liquidity Provider, and Masterlink Securities Corporation and Bank Sinopac as Co-Managers; and
    Issue of U.S.$ 2.164 billion 4.99% fixed rate Notes due 21 October 2056 with HSBC as Lead Manager and Bookrunner, Standard Chartered Bank (Taiwan) Limited as Manager, Bookrunner and Liquidity Provider, and KGI Securities Co. Ltd. and Bank Sinopac as Co-Managers. This is the first Formosa Bond ever issued with a 40 year maturity.

The Clifford Chance team also advised the arranging banks on EDF's first Formosa Bond issuance last year.

2. A total of €2.5 billion was raised through two senior note issuances on 13 October 2016:

    An issue of €1.75 billion 1% Green Bonds due 13 October 2026 with Crédit Agricole Corporate and Investment Bank, Banca IMI S.p.A., Barclays Bank PLC, ING Bank N.V. Belgian Branch, Banco Santander, S.A. and Société Générale acting as Active Bookrunners and Banco Bilbao Vizcaya Argentaria, S.A., CM-CIC Market Solutions, La Banque Postale, Mediobanca, Natixis and UniCredit Bank AG acting as Passive Bookrunners. This is the third Green Bond issued by EDF over the past three years. EDF is now the leading corporate issuer of Green Bonds in France, having issued more than €4 billion in Green Bonds to support its development in renewable energies.
    An issue of €750 million 1.875% Notes due 13 October 2036 with the same Active Bookrunners and Passive Bookrunners involved in the Green Bond issuance.

The Clifford Chance team was led by Paris-based Partner Cédric Burford, assisted by Andrew McCann (Senior Associate) and Marie-Caroline Schwartz (Senior Associate).