EDF has successfully priced €1 billion of green perpetual subordinated notes, with an initial 5.25% coupon until 2032 and a 5.25-year first call at the company’s discretion. Net proceeds will finance or refinance investments extending the lifetimes of existing nuclear reactors in France under EDF’s Green Financing Framework and in line with the European taxonomy. The notes are expected to receive ratings of BB- from S&P, Ba2 from Moody’s and BBB- from Fitch, with 50% equity credit. Settlement and delivery are expected on 14 September 2026, when the notes are also expected to be admitted to trading on Euronext Paris. EDF said its Offer to Purchase for part of its €1.25 billion perpetual subordinated social notes amounts to €150 million. The transaction follows EDF’s planned €850 million hybrid-bond redemption and comes after a CNH800 million private bond placement since 31 July 2026.