France's EDF launches cash tender offers for four series of bonds

By Marisa Wong

Madison, Wis., Oct. 28 - Electricite de France SA announced partial cash tender offers for the following outstanding bonds:

• 5.625% bonds due January 2013;

• 5% bonds due January 2013;

• 5% bonds due May 2014; and

• 5.125% bonds due January 2015.

The company said it will give priority to the repurchase of its 2014 bonds.

EDF will issue a new long-maturity euro-denominated bond for an amount equivalent to the tender offer consideration.

The offers will enable EDF to pursue its policy of lengthening the average maturity of its debt while decreasing the 2013, 2014 and 2015 maturities against a new long maturity.

BNP Paribas, Credit Agricole-CIB, Deutsche Bank, Goldman Sachs, HSBC and Natixis are joint dealers managers for the tender offer.

EDF is a Paris-based nuclear energy company.

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