In addition, on 25 September 2018, EDF successfully launched a €1 billion senior bond issue with a 12-year maturity and a fixed coupon of 2%.
On 25 September 2018, EDF launched a €1.25 billion super-subordinated bond issue with a 4% coupon and a redemption option exercisable at EDF’s discretion, initially between 4 July 2024 (inclusive) and 4 October 2024 (inclusive). It also launched a contractual cash buyback offer for four existing hybrid bond issues for €1.25 billion. The total amount of EDF hybrid shares remains unchanged following these issue/redemption operations.
On 26 November 2019, EDF launched a €500 million euro-denominated hybrid bond issue with a 3% coupon and a redemption option including a first option for early redemption at the Company’s call in December 2027. The Company also launched contractual buyback offers for the following securities:
On 28 November 2019, EDF raised US$2 billion with a 50-year maturity and a fixed coupon of 4.5% under its EMTN program.
As part of the same programme, on 2 December 2019, EDF raised €1.25 billion with a 30-year maturity and a fixed coupon of 2%. On 12 December 2019, EDF announced the final result of its buyback offer for euro-denominated hybrid bonds and the results of early participation in its buyback offer for US dollar-denominated hybrid bonds.
On 30 December 2019, EDF announced the final result of its buyback offer for US dollar-denominated hybrid bonds. The Company also exercised its option to buy back on 29 January 2020 all of the perpetual subordinated bonds totalling €1.250 billion, with a current outstanding amount of €338.2 million.
On 8 September 2020, EDF launched two new euro-denominated hybrid bond issues for a total par value of €2.1 billion, consisting of:
Acquisition and disposal commitments involving securities in subsidiaries are described in note 3.2 to the consolidated financial statements for the fiscal year ended 31 December 2020.
With the exception of these commitments to acquire and dispose of securities and any other commitments that are described in chapter 1 (“The Group, its strategy and activities”) of this Universal Registration Document, EDF has not made any promises to purchase or sell that would make it possible to acquire or dispose of, as applicable, all or part of the capital of the Company or of any of its subsidiaries, as defined in Article L. 233-1 of the French Commercial Code.
To the Company’s knowledge, none of the Company’s common shares that make up its share capital have been pledged.
For the past three fiscal years, EDF’s share capital has been owned as follows as at 31 December of each year:
At 31/12/2020 | At 31/12/2019 | At 31/12/2018 | ||||
|---|---|---|---|---|---|---|
| Number of shares | % of capital | Number of shares | % of capital | Number of shares | % du capital | |
| State(1) | State (1)At 31/12/2020 2,593,960,583 | State (1)At 31/12/2019 83.68 | State (1)At 31/12/2018 2,593,960,583 | 83.58 | 2,518,498,450 | 83.67 |
| Institutional and private investors | Institutional and private investors At 31/12/2020 463,040,491 | Institutional and private investors At 31/12/2019 14.94 | Institutional and private investors At 31/12/2018 463,147,431 | 14.92 | 453,361,661 | 15.06 |
| Employee shareholdings | Employee shareholdings At 31/12/2020 42,092,505(i) | Employee shareholdings At 31/12/2019 1.36 | Employee shareholdings At 31/12/2018 41,630,134(ii) | 1.34 | 34,679,546 (iii) | 1.15 |
| Treasury shares | Treasury shares At 31/12/2020 830,000 | Treasury shares At 31/12/2019 0.02 | Treasury shares At 31/12/2018 4,882,938 | 0.16 | 3,728,019 | 0.12 |
TOTAL | TOTAL At 31/12/2020 3,099,923,579 | TOTAL At 31/12/2019 100 | TOTAL At 31/12/2018 3,103,621,086 | 100.00 | 3,010,267,676 | 100.00 |
(i) This number includes 38,075,245 shares (representing 1.23% of the capital) based on the definition of employee shareholdings under Article L. 225-102 of the French Commercial Code (shares held by EDF’s employees and former employees through the “Actions EDF” FCPE of the EDF group’s savings plan). This number also includes almost 4.017 million shares, representing 0.13% of the capital, held as directly or administered registered shares, with no lock-in periods or whose lock-in periods have expired, by employees or former employees.
(ii) This number includes 37,527,237 shares (representing 1.21% of the capital) based on the definition of employee shareholdings under Article L. 225-102 of the French Commercial Code (shares held by EDF’s employees and former employees through the “Actions EDF” FCPE of the EDF group’s savings plan). This number also includes almost 4.1 million shares, representing 0.13% of the capital, held as directly or administered registered shares, with no lock-in periods or whose lock-in periods have expired, by employees or former employees.
(iii) This number includes 30,453,101 shares (representing 1.01% of the capital) based on the definition of employee shareholdings under Article L. 225-102 of the French Commercial Code (shares held by EDF’s employees and former employees through the “Actions EDF” FCPE of the EDF group’s savings plan). This number also includes almost 4.2 million shares, representing 0.14% of the capital, held as directly or administered registered shares, with no lock-in periods or whose lock-in periods have expired, by employees or former employees.
(1) The French State's shareholding in EDF includes the allocation of 328,349,361 EDF shares to the EPIC BPI France.
