5. The Group’s financial performance and outlook

5.1.3.3 Financial structure
  • EDF announced the final results of its tender offer for US dollar-denominated hybrid notes launched on 26 November 2019 (see press release of 12 December 2019 and note 3.3.3 to the 2019 consolidated financial statements).
  • EDF raised €1.25 billion at 30 years as part of its EMTN program (see press release of 3 December 2019 and note 3.3.4 to the 2019 consolidated financial statements).
  • EDF raised US$2 billion at 50 year as part of its EMTN program (see press release of 28 November 2019 and note 3.3.4 to the 2019 consolidated financial statements).
  • EDF raised its €500 million hybrid note offering (see press release of 26 November 2019 and note 3.3.2 to the 2019 consolidated financial statements).
  • EDF signed two bilateral sustainable revolving credit facilities with Crédit Agricole CIB and Societe Generale CIB, bringijhng the total of its sustainability-linked loans to over €5 billion (see press release of 22 July 2019 and note 3.3.1 to the 2019 consolidated financial statements).
  • EDF and BBVA signed a €300 million sustainability-linked revolving credit facility (RCF) which incorporates a pricing adjustment based on EDF’s sustainability performance linked to CO2 emissions and energy efficiency (see press release of 22 March 2019 and note 3.3.1 to the 2019 consolidated financial statements).

5.1.3.4 Regulatory environment

Regulatory changes are described in detail in the following notes to the 2019 consolidated financial statements:

  • note 4.1 “France’s multi-year energy programme (PPE) and The Energy and Climate law”;
  • note 4.2 “Regulated electricity sales tariffs in France”;
  • note 4.3 “TURPE network access tariffs”;
  • note 4.4 “Compensation for public energy service charges (CSPE)”;
  • note 4.5 “French capacity mechanism”;
  • note 4.6 “Energy savings certificates”;
  • note 4.7 “ARENH”.

5.1.3.5 Other significant events
  • Béatrice Buffon was appointed as Executive Director in charge of EDF’s International Division, succeeding Marianne Laigneau, who was appointed Chair of the Enedis Management Board (see press release of 4 February 2020).
  • Véronique Bédague-Hamilius was appointed as a member of the EDF Board of Directors, replacing Anne Rigail (see press release of 18 December 2019).
  • EDF announced the results of the option to receive the 2019 interim dividend in shares (see press release of 16 December 2019).
  • The EDF group successfully completed its share offer reserved for employees and former employees (see press release of 10 July 2019).
  • Directors representing employees took up their functions on 23 November 2019: Christine Chabauty and Christophe Cuvilliez (CGT), were replaced by Karine Migliorini and Claire Bordenave. Vincent Rodet succeeded Marie-Hélène Meyling (CFDT). The terms of office of Jacky Chorin (FO), Jean-Paul Rignac (CGT) and Christian Taxil (CFE-CGC) were renewed.
  • At its meeting of 28 June 2019 the Board of Directors provisionally appointed François Delattre as Director to replace Maurice Gourdault-Montagne.
  • EDF announced the results of the option for payment of the balance of the 2018 dividend (see press release of 17 June 2019 and note 30.3 to the 2019 consolidated financial statements).
  • The following changes occurred in the EDF group’s Executive Committee (see press release of
    20 May 2019):
    • Marc BENAYOUN was appointed Group Senior Executive Vice President in charge of Customers, Services and Regional Action, whilst remaining in charge of the Gas and Italy business;
    • Cédric LEWANDOWSKI was appointed Group Senior Executive Vice President in charge of the Nuclear and Thermal business;
    • Alexandre PERRA was appointed Group Senior Executive Vice President in charge of Innovation, Corporate Social Responsibility and Strategy.
  • The following changes occurred in EDF’s Board of Directors (see press release of 16 May 2019):
    • renewal of Jean-Bernard Lévy’s term of office as Director;
    • appointment of Anne Rigail, Bruno Crémel, Gilles Denoyel and Philippe Petitcolin as Directors;
    • renewal of the terms of office of Marie-Christine Lepetit, Colette Lewiner, Laurence Parisot, Michèle Rousseau and Maurice Gourdault-Montagne.