Maturity: 31 January 2013
Issue price: 100.75
Launch date: Wednesday 28 June
Payment date: 31 July
Sole mgr: Credit Suisse
This was well received by investors; it was tightly but correctly priced at mid-swaps plus 2bp. Six and a half years is the right maturity to pick up a good range of investors, which is what we have done: retail clients, private banks and institutional funds are all involved with this transaction.
This is EDF's first issue in Swiss francs for seven years and has priced at a competitive level to that seen in euros. In addition to the rarity value, investors are keen to diversify away from financials, which helped the trade.
EDF has placed trades with the most prestigious Swiss investor names in the past, and has done so again with this deal.