EDF / 2020 Universal Registration Document

6 FINANCIAL STATEMENTS

Notes to the consolidated financial statements

On 8 September 2020, EDF made an offering of Green Bonds convertible into new shares and/or exchangeable for existing shares ( OCEANEs Vertes ). The key features of this issue are as follows:

Type of borrowing (in millions of currencies)

Entity

Issue

Maturity

Issue amount

Currency

Rate

OCEANEs Vertes Green Bonds

EDF

09/2020

09/2024

2,400

EUR

0%

The issue price for these bonds was €11.70, i.e. 107.00% of their nominal value or a gross annual return of -1.68%. The nominal value of the bonds was set at €10.93 including a conversion premium of 32.5% over the Company’s reference price on Euronext Paris, the regulated Paris stock market (1) . Holders of these bonds have the right to convert them into new EDF shares and/or exchange them for existing EDF shares. The conversion and/or exchange rate is set at one share per bond, subject to the standard adjustments including anti-dilution and dividend protections as described in the terms of the issue.

The bonds may be redeemed prior to maturity at the option of the Company, subject to certain conditions. Unless previously converted, exchanged, redeemed or repurchased and cancelled, the bonds will be redeemed at nominal value when they reach maturity. These bonds are listed on the Euronext Access TM market operated by Euronext in Paris.

18.3.3

Loans and financial liabilities by maturity, currency and interest rate

18.3.3.1

Maturity of loans and financial liabilities

Loans from financial institutions

Other financial liabilities

Lease liability

Accrued Interest

Total

Bonds

(in millions of euros)

Less than one year From one to five years More than five years

3,447

575

5,951

673

879 136 205

11,525 15,832 38,234

12,078 34,671

1,478 1,244

106 514

2,034 1,600

LOANS AND OTHER FINANCIAL LIABILITIES AT 31/12/2020

50,196

3,297

6,571

4,307

1,220

65,591

The non-discounted lease liability matures as follows:

31/12/2020

31/12/2019

Maturity

Total

< 1 year

1-5 years

> 5 years

Total

(in millions of euros)

NON-DISCOUNTED CONTRACTUAL CASH FLOWS

4,883

757

2,183

1,943

5,052

Breakdown of loans and other financial liabilities by currency 18.3.3.2 The breakdown of loans and other financial liabilities by currency includes the effect of derivatives classified as hedges (of debts in foreign currencies and net investments in foreign subsidiaries) under IFRS 9.

At 31 December 2020

31/12/2020

Impact of hedging

Initial debt structure

instruments Debt structure after hedging

amount

% of debt

amount

amount

% of debt

(in millions of euros)

Euro (EUR)

36,241 16,735

55% 26% 15%

11,798 (10,958)

48,039

73%

American dollar (USD) Pound sterling (GBP)

5,777

9%

9,996 2,619

537

10,533

16%

Other

4%

(1,377)

1,242

2%

LOANS AND OTHER FINANCIAL LIABILITIES

65,591

100%

-

65,591

100%

(1) The reference price is equal to the volume-weighted average EDF share price observed on Euronext Paris between the launch date of the green bond offering until the final pricing of the bonds was determined the same day, i.e. €8.2465.

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EDF - UNIVERSAL REGISTRATION DOCUMENT 2020