EDF seeks big hybrid in three currencies, may issue programmatically
Electricité de France has announced what could be one of the highest profile corporate hybrid debt issues so far, to strengthen its balance sheet during a phase of heavy capital expenditure that it hopes will lead to profitable growth.
The state-controlled power company will hold a roadshow in Europe and the US for three benchmark bonds, in euros, sterling and dollars. Bankers believe the deal could easily reach about 2bn, though no size target has been made public yet.
Global coordinators BNP Paribas, Citigroup and HSBC are leading
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