On 28 November 2019, EDF raised US$2 billion with a 50-year maturity and a fixed coupon of 4.50% 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 2.00%. 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:
On 26 May 2021, EDF launched an issue of hybrid perpetual corporate bonds denominated in euros for a total nominal amount of €1.25 billion with an initial coupon of 2.625% and a first early redemption option at EDF’s option on 1 June 2028.
On 23 November 2021, EDF launched a senior green bond issue maturing on 29 November 2033 denominated in euros, for a nominal amount of €1.75 billion and with a fixed coupon of 1%.
At 31 December 2021, the amount of bonds in the balance sheet was EUR 49,242 million (Note 18.3.2.1 “Changes in loans and other financial liabilities” in the consolidated financial statements at 31 December 2021), with Note 18.3.2.2 also providing details of the Group's main borrowings, including those relating to EMTNs and other bonds. At 31 December 2021, the amount of perpetual subordinated bonds recognised in equity was EUR 12,264 million (Note 14.4.1 “Outstanding perpetual subordinated bonds at 31 December 2021” of the consolidated financial statements at 31 December 2021).
Disposal commitments involving securities in subsidiaries are described in note 3.2 to the consolidated financial statements for the fiscal year ended 31 December 2021 and concerning the E&P activities, in particular earn-outs. In addition, note 23 "Events after the balance sheet date" recalls that on February 10, 2022, EDF and GE announced the signature of an exclusivity agreement concerning the proposed acquisition by EDF of GE Steam Power's nuclear activities relating to the conventional island. The completion of this transaction is, among other things, subject to various regulatory approvals.
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 and mainly the above mentionned acquisition of GE GEAST which is listed in 1.4.1.1.2.3 B, 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 31/12/2021 | At 31/12/2020 | At 31/12/2019 | ||||
|---|---|---|---|---|---|---|
| Number of shares |
% of capital | Number of shares |
% of capital | Number of shares |
% of capital | |
| State (1) | 2,716,550,741 | 83.88 | 2,593,960,583 | 83.68 | 2,593,960,583 | 83.58 |
| Institutional and private investors | 478,277,574 | 14.77 | 463,040,491 | 14.94 | 463,147,431 | 14.92 |
| Employee shareholdings | 42,673,879 (2) | 1.32 | 42,092,505 (3) | 1.36 | 41,630,134 (4) | 1.34 |
| Treasury shares | 1,174,554 | 0.03 | 830,000 | 0.02 | 4,882,938 | 0.16 |
| TOTAL | 3,238,676,748 | 100 | 3,099,923,579 | 100 | 3,103,621,086 | 100,00 |
(1) The French State’s shareholding in EDF includes the EDF shares held by EPIC BPI France.
(2) This number includes 38,775,926 shares (representing 1.20% 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” and “EDF ORS” FCPE of the EDF group’s savings plan). This number also includes almost 3.89 million shares, representing 0.12% 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.
(3) 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” and “EDF ORS” 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.
(4) 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” and “EDF ORS” 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.
Following a French state allotment of 389,349,361 EDF shares to EPIC Bpifrance, on 29 January 2018, BPI France and the French State combined crossed the statutory thresholds of 5%, 10%, 15%, 20%, 30%, one third, 50% and two-thirds of the Company’s capital and voting rights. The French state and EPIC Bpifrance act together and have to consult each other before every Shareholders’ Meeting of EDF. Bpifrance undertook to not transfer, pledge or otherwise dispose of the EDF shares.
