| 31/12/2019 | |||||
|---|---|---|---|---|---|
| Initial debt structure | Impact of hedging instruments | Debt structure after hedging | |||
(in millions of euros) | amount | % of debt | amount | amount | % of debt |
| Euro (EUR) | Euro (EUR) 31/12/2019 33,360 | 50% | 18,491 | 51,851 | 77% |
| American dollar (USD) | American dollar (USD) 31/12/2019 20,867 | 31% | (14,814) | 6,053 | 9% |
| Pound sterling (GBP) | Pound sterling (GBP) 31/12/2019 10,269 | 15% | (1,705) | 8,564 | 13% |
| Other | Other 31/12/2019 2,884 | 4% | (1,972) | 912 | 1% |
| LOANS AND OTHER FINANCIAL LIABILITIES | LOANS AND OTHER FINANCIAL LIABILITIES 31/12/2019 67,380 | 100% | - | 67,380 | 100% |
The breakdown of loans and other financial liabilities by type of interest rate includes the effect of derivatives classified as hedges under IFRS 9.
| 31/12/2020 | |||||
|---|---|---|---|---|---|
| Initial debt structure | Impact of hedging instruments | Debt structure after hedging | |||
| (in millions of euros) | amount | % of debt | amount | amount | % of debt |
| Fixed rates | Fixed rates 31/12/202060,667 | 92% | (15,217) | 45,450 | 69% |
| Floating rates | Floating rates 31/12/20204,924 | 8% | 15,217 | 20,141 | 31% |
| LOANS AND OTHER FINANCIAL LIABILITIES | LOANS AND OTHER FINANCIAL LIABILITIES31/12/2020 65,591 | 100% | - | 65,591 | 100% |
| 31/12/2019 | |||||
|---|---|---|---|---|---|
| Initial debt structure | Impact of hedging instruments | Debt structure after hedging | |||
(in millions of euros) | amount | % of debt | amount | amount | % of debt |
| Fixed rates | Fixed rates 31/12/2019 62,128 | 92% | (21,035) | 41,093 | 61% |
| Floating rates | Floating rates 31/12/2019 5,252 | 8% | 21,035 | 26,287 | 39% |
| LOANS AND OTHER FINANCIAL LIABILITIES | LOANS AND OTHER FINANCIAL LIABILITIES 31/12/2019 67,380 | 100% | - | 67,380 | 100% |
A large portion of the EDF group’s fixed-rate loans is swapped to variable rates.
Project financing loans to EDF Renewables from non-Group parties generally include early repayment clauses, mainly applicable when the project company concerned fails to maintain a minimum Debt Service Coverage Ratio (DSCR). In general, early repayment clauses are activated when this ratio falls below 1.
In other Group entities, certain clauses contained in contracts for financing or other commitments may make reference to Group ratings but are not classified as covenants.
Three borrowings with a combined total of €1,150 million contain a rendez vous clause requiring contact between the borrower and lender if the borrower’s rating falls below a specified level, possibly leading to renegotiation of the terms of the loan.
No early repayment took place in 2020 as a result of any Group entity’s failure to comply with contractual clauses concerning loans.
