Obligation France Énergie 4.75% ( US268317AP93 ) en USD

Société émettrice France Énergie
Prix sur le marché refresh price now   93.736 %  ▲ 
Pays  France
Code ISIN  US268317AP93 ( en USD )
Coupon 4.75% par an ( paiement semestriel )
Echéance 12/10/2035



Prospectus brochure de l'obligation Electricite de France (EDF) US268317AP93 en USD 4.75%, échéance 12/10/2035


Montant Minimal 2 000 USD
Montant de l'émission 500 000 000 USD
Cusip 268317AP9
Notation Standard & Poor's ( S&P ) BBB ( Qualité moyenne inférieure )
Notation Moody's Baa1 ( Qualité moyenne inférieure )
Prochain Coupon 13/10/2025 ( Dans 90 jours )
Description détaillée EDF est une entreprise énergétique française intégrée, active dans la production, le transport, la distribution et la vente d'électricité, ainsi que dans les énergies renouvelables et les services énergétiques.

Cet article financier examine en détail une émission obligataire spécifique, offrant un aperçu des caractéristiques d'un titre de créance émis par un acteur majeur du secteur énergétique. L'émetteur de cette obligation est Electricité de France (EDF), une entreprise publique française historiquement et stratégiquement prépondérante dans la production, le transport, la distribution et la commercialisation de l'électricité en France et en Europe ; en tant que pilier de l'indépendance énergétique française et acteur clé de la transition énergétique, la santé financière d'EDF est un sujet d'intérêt majeur pour les marchés, influencée par les politiques publiques et les investissements massifs dans les infrastructures nucléaires et renouvelables. Il s'agit spécifiquement d'une obligation (Type : Obligation) dont les identifiants uniques sont le code ISIN US268317AP93 et le code CUSIP 268317AP9. Émise par la France comme pays d'émission, cette obligation est libellée en dollars américains (Devise : USD), ce qui la rend accessible aux investisseurs internationaux cherchant une exposition au risque émetteur français en devises étrangères. Le titre offre un taux d'intérêt fixe de 4.75% et a été émis pour une taille totale de 500 000 000 USD (Taille totale de l'émission : 500000000). Les paiements d'intérêts sont effectués avec une fréquence de deux fois par an (Fréquence de paiement : 2), soit semi-annuellement, assurant un flux de revenus régulier aux détenteurs. La maturité de cette obligation est fixée au 12 octobre 2035 (Maturité : 12/10/2035), offrant une échéance à moyen-long terme. Actuellement, le prix de cette obligation sur le marché secondaire est de 93.736% de sa valeur nominale (Prix actuel sur le marché : 93.736%), indiquant qu'elle se négocie en dessous du pair, potentiellement en raison de l'évolution des taux d'intérêt ou de la perception du risque émetteur depuis son émission. La taille minimale à l'achat pour cette obligation est de 2 000 unités nominales (Taille minimale à l'achat : 2000), la rendant accessible à un éventail d'investisseurs. La qualité de crédit de l'émetteur est évaluée par les principales agences de notation financière : Standard & Poor's (S&P) a attribué une notation de BBB (Notation par l'agence de notation Standard & Poors (S&P) : BBB), tandis que Moody's a accordé une notation Baa1 (Notation par l'agence de notation Moodys : Baa1) ; ces notations se situent dans la catégorie d'investissement (Investment Grade), signalant une qualité de crédit jugée adéquate, mais avec une certaine sensibilité aux conditions économiques défavorables pour la notation BBB et un risque modéré pour Baa1, reflétant la solidité relative d'EDF tout en reconnaissant les défis inhérents à son secteur d'activité et à sa structure de capital. Cette obligation d'EDF représente ainsi une opportunité d'investissement dans une entité stratégique française, offrant un rendement nominal attrayant pour un titre libellé en USD, et ce, avec une maturité lointaine et une notation d'investissement, le tout à un prix inférieur au pair sur le marché secondaire.







PRICING TERM SHEET
Dated October 7, 2015



EDF S.A.

$1,500,000,000 2.350% Fixed Rate Notes due October 13, 2020
$500,000,000 4.750% Fixed Rate Notes due October 13, 2035
$1,150,000,000 4.950% Fixed Rate Notes due October 13, 2045
$350,000,000 5.250% Fixed Rate Notes due October 13, 2055
(the "Notes")

Issuer .............................................................
EDF S.A.
Issuer's Long-Term Debt Ratings* ...............
A1/A+/A (Moody's/Standard & Poor's/Fitch)
Pricing Date ...................................................
October 7, 2015
Settlement Date .............................................
October 13, 2015 (T+3)
Joint Bookrunners ................................ Barclays Capital Inc., Citigroup Global Markets Inc., Credit Agricole
Securities (USA) Inc., Goldman, Sachs & Co., J.P. Morgan Securities
LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Mitsubishi UFJ
Securities (USA), Inc., Mizuho Securities USA Inc., RBC Capital
Markets, LLC, BBVA Securities Inc., Commerz Markets LLC, Credit
Suisse Securities (USA) LLC, Lloyds Securities Inc., Mediobanca-Banca
di Credito Finanziario S.p.A., Nomura International plc, SMBC Nikko
Capital Markets Limited, Société Générale, Standard Chartered Bank,
UniCredit Bank AG
Form of Notes................................................
Rule 144A/Regulation S
Title of Securities ................................ $1,500,000,000 aggregate principal amount of 2.350% Fixed Rate Notes
due October 13, 2020 (the "Five-Year Fixed Rate Notes")
$500,000,000 aggregate principal amount of 4.750% Fixed Rate Notes due
October 13, 2035 (the "Twenty-Year Fixed Rate Notes")
$1,150,000,000 aggregate principal amount of 4.950% Fixed Rate Notes
due October 13, 2045 (the "Thirty-Year Fixed Rate Notes")
$350,000,000 aggregate principal amount of 5.250% Fixed Rate Notes due
October 13, 2055 (the "Forty-Year Fixed Rate Notes")
Notional Amount ...........................................
Five-Year Fixed Rate Notes: $1,500,000,000
Twenty-Year Fixed Rate Notes: $500,000,000




Thirty-Year Fixed Rate Notes: $1,150,000,000
Forty-Year Fixed Rate Notes: $350,000,000
Maturity Date ................................................
Five-Year Fixed Rate Notes: October 13, 2020
Twenty-Year Fixed Rate Notes: October 13, 2035
Thirty-Year Fixed Rate Notes: October 13, 2045
Forty-Year Fixed Rate Notes: October 13, 2055
Interest Rate...................................................
Five-Year Fixed Rate Notes: 2.350% per annum, payable semi-annually in
arrears
Twenty-Year Fixed Rate Notes: 4.750% per annum, payable semi-
annually in arrears
Thirty Fixed Rate Notes: 4.950% per annum, payable semi-annually in
arrears
Forty-Year Fixed Rate Notes: 5.250% per annum, payable semi-annually
in arrears
Date Interest Starts Accruing ........................
October 13, 2015
Reoffer Price To Public ................................
Five-Year Fixed Rate Notes: 99.155% per Note plus accrued interest, if
any, from October 13, 2015
Twenty-Year Fixed Rate Notes: 97.902% per Note plus accrued interest, if
any, from October 13, 2015
Thirty-Year Fixed Rate Notes: 99.752% per Note plus accrued interest, if
any, from October 13, 2015
Forty-Year Fixed Rate Notes: 98.098% per Note plus accrued interest, if
any, from October 13, 2015
Benchmark Treasury ................................
Five-Year Fixed Rate Notes: 1.375% due September 30, 2020
Twenty-Year Fixed Rate Notes: 3.000% due May 15, 2045
Thirty-Year Fixed Rate Notes: 3.000% due May 15, 2045
Forty-Year Fixed Rate Notes: 3.000% due May 15, 2045
Benchmark Treasury Price and Yield ............
Five-Year Fixed Rate Notes: 99-31, 1.381%
Twenty-Year Fixed Rate Notes: 101-21, 2.916%
Thirty-Year Fixed Rate Notes: 101-21, 2.916%
Forty-Year Fixed Rate Notes: 101-21, 2.916%
Spread to Benchmark Treasury .....................
Five-Year Fixed Rate Notes: 115 basis points
Twenty-Year Fixed Rate Notes: 200 basis points
Thirty-Year Fixed Rate Notes: 205 basis points
Forty-Year Fixed Rate Notes: 245 basis points
Reoffer Yield to Maturity ..............................
Five-Year Fixed Rate Notes: 2.531%
Twenty-Year Fixed Rate Notes: 4.916%
Thirty-Year Fixed Rate Notes: 4.966%
Forty-Year Fixed Rate Notes: 5.366%
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Day Count Fraction ................................Five-Year Fixed Rate Notes: 30/360
Twenty-Year Fixed Rate Notes: 30/360
Thirty-Year Fixed Rate Notes: 30/360
Forty-Year Fixed Rate Notes: 30/360
Interest Payment and Record Dates ...............
Five-Year Fixed Rate Notes: April 13 and October 13 to holders of record
on March 29 and September 28 immediately preceding the related interest
payment date
Twenty-Year Fixed Rate Notes: April 13 and October 13 to holders of
record on March 29 and September 28 immediately preceding the related
interest payment date
Thirty-Year Fixed Rate Notes: April 13 and October 13 to holders of
record on March 29 and September 28 immediately preceding the related
interest payment date
Forty-Year Fixed Rate Notes: April 13 and October 13 to holders of
record on March 29 and September 28 immediately preceding the related
interest payment date
First Interest Payment Date ...........................
Five-Year Fixed Rate Notes: April 13, 2016 (for interest accrued from and
including October 13, 2015 up to, but excluding, April 13, 2016)
Twenty-Year Fixed Rate Notes: April 13, 2016 (for interest accrued from
and including October 13, 2015 up to, but excluding, April 13, 2016)
Thirty-Year Fixed Rate Notes: April 13, 2016 (for interest accrued from
and including October 13, 2015 up to, but excluding, April 13, 2016)
Forty-Year Fixed Rate Notes: April 13, 2016 (for interest accrued from
and including October 13, 2015 up to, but excluding, April 13, 2016)
Interest Amount .............................................
Interest on the Fixed Rate Notes will be calculated on the basis of a 360-
day year of twelve 30-day months.
If the due date for any payment in respect of any Fixed Rate Note is not a
Business Day (as defined below), the Holder thereof will not be entitled to
payment of the amount due until the next succeeding Business Day, and
will not be entitled to any further interest or other payment as a result of
any such delay.
Rule 144A CUSIP ................................ Five-Year Fixed Rate Notes: 268317 AN4
Twenty-Year Fixed Rate Notes: 268317 AP9
Thirty-Year Fixed Rate Notes: 268317 AQ7
Forty-Year Fixed Rate Notes: 268317 AR5
Regulation S CUSIP ................................Five-Year Fixed Rate Notes: F2893T AN6
Twenty-Year Fixed Rate Notes: F2893T AP1
Thirty-Year Fixed Rate Notes: F2893T AQ9
Forty-Year Fixed Rate Notes: F2893T AR7
Rule 144A ISIN .............................................
Five-Year Fixed Rate Notes: US268317AN46
Twenty-Year Fixed Rate Notes: US268317AP93
Thirty-Year Fixed Rate Notes: US268317AQ76
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Forty-Year Fixed Rate Notes: US268317AR59
Regulation S ISIN ................................ Five-Year Fixed Rate Notes: USF2893TAN66
Twenty-Year Fixed Rate Notes: USF2893TAP15
Thirty-Year Fixed Rate Notes: USF2893TAQ97
Forty-Year Fixed Rate Notes: USF2893TAR70
Rule 144A Common Code ............................
Five-Year Fixed Rate Notes: 130672728
Twenty-Year Fixed Rate Notes: 130672353
Thirty-Year Fixed Rate Notes: 130671969
Forty-Year Fixed Rate Notes: 130671284
Regulation S Common Code .........................
Five-Year Fixed Rate Notes: 130672876
Twenty-Year Fixed Rate Notes: 130672531
Thirty-Year Fixed Rate Notes: 130672159
Forty-Year Fixed Rate Notes: 130671497
Business Day Convention .............................
A day other than a Saturday, Sunday or other day on which commercial
banking institutions are authorized or required by law to close in New
York City or Paris, France.
Denominations ..............................................
$2,000 and integral multiples of $1,000 in excess thereof
Clearing System(s) ................................DTC and its participants, including Euroclear Bank S.A./N.V., as operator
of the Euroclear System ("Euroclear") and Clearstream Banking, société
anonyme ("Clearstream, Luxembourg").
Ranking .........................................................
The Notes will be the Issuer's senior unsecured obligations, ranking
equally in right of payment with all of the Issuer's existing and future
senior unsecured debt (save for certain mandatory exemptions provided by
French law). The Notes will rank equally with each other.
Additional Amounts ................................All payments in respect of the Notes will be made without withholding or
deduction for any taxes or other governmental charges, except to the extent
required by law. If withholding or deduction is required by law, subject to
certain exceptions, the Issuer will pay additional amounts so that the net
amount Holders receive is no less than the amount that Holders would
have received in the absence of such withholding or deduction.
Optional Redemption ................................
Prior to the applicable Par Call Date, the Issuer may redeem the relevant
series of Notes, in whole or in part, at any time or from time to time prior
to their maturity, at its option, giving not less than 30 nor more than
calendar 60 days' notice to each Holder of such Notes with a copy to the
Fiscal Agent (which notice shall be irrevocable). Upon redemption, the
Issuer will pay a redemption price equal to the greater of (i) 100% of the
principal amount of the relevant series of Notes to be redeemed and (ii) as
determined by the Fiscal Agent, the sum of the present values of the
remaining scheduled payments of principal on the Notes of such series to
be redeemed through the relevant Par Call Date (exclusive of any portion
of such payments of interest accrued as of the date of redemption)
discounted to the redemption date on a semiannual basis (assuming a 360-
day year consisting of twelve 30-day months) at a rate equal to the
Treasury Rate plus (a) 20 basis points with respect to the Five-Year Fixed
Rate Notes, (b) 30 basis points with respect to the Twenty-Year Fixed Rate
Notes (c) 35 basis points with respect to the Thirty-Year Fixed Rate Notes
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and (d) 40 basis points with respect to the Forty-Year Fixed Rate Notes,
plus in each case accrued and unpaid interest on the principal amount
being redeemed to (but excluding) the date of redemption.
"Treasury Rate" means, with respect to any redemption date, the rate per
annum equal to (i) Treasury Yield to Maturity of the Comparable Treasury
Issue or (ii) if there are two Comparable Treasury Issues, the rate
determined by interpolation (on a day count basis) of the Treasury Yields
to Maturity for the Comparable Treasury Issues for a maturity equal to the
Remaining Life of the Notes.
"Treasury Yield to Maturity" means, with respect to any Comparable
Treasury Issue, the semi-annual equivalent yield to maturity of that
Comparable Treasury Issue assuming a price for that Comparable Treasury
Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price of such Comparable Treasury Issue for such
redemption date.
"Comparable Treasury Issue" means the United States Treasury security
or securities selected by an Independent Investment Banker as having an
actual or interpolated maturity most comparable to the remaining term
("Remaining Life") of the Fixed Rate Notes to be redeemed (assuming ,
for this purpose, that such series of Fixed Rate Notes matured on the
applicable Par Call Date) that would be utilized, at the time of selection
and in accordance with customary financial practice, in pricing new issues
of corporate debt securities of a comparable maturity to the Remaining
Life of such series of Fixed Rate Notes.
"Comparable Treasury Price" means, with respect to any redemption
date, (A) the average of the Reference Treasury Dealer Quotations for such
redemption date, after excluding the highest and lowest such Reference
Treasury Dealer Quotations, or (B) if the Independent Investment Banker
obtains fewer than four such Reference Treasury Dealer Quotations, the
average of all such quotations.
"Independent Investment Banker" means one of the Reference Treasury
Dealers appointed by us.
"Reference Treasury Dealer" means each of Citigroup Global Markets
Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan
Securities LLC or their affiliates which are primary U.S. Government
securities dealers, and their respective successors and at least one other
primary U.S. Government securities dealers in The City of New York (a
"Primary Treasury Dealer") designated by us; provided, however, that if
any of the foregoing or their affiliates shall cease to be a Primary Treasury
Dealer, we shall substitute therefor another Primary Treasury Dealer.
"Reference Treasury Dealer Quotations" means, with respect to each
Reference Treasury Dealer and any redemption date, the average, as
determined by the Independent Investment Banker, of the bid and asked
prices for the Comparable Treasury Issue (expressed in each case as a
percentage of its principal amount) quoted in writing to the Independent
Investment Banker by the Reference Treasury Dealers at 3:30 p.m. New
York time on the third business day preceding such redemption date.
Residual Maturity Call Option ......................
The Issuer may, on giving not less than 15 nor more than 30 days'
irrevocable notice, at any time or from time to time from and including the
date one month prior to the applicable Maturity Date for the Five-Year
Fixed Rate Notes (the "Five-Year Notes Par Call Date") and six months
prior to the applicable Maturity Date for the Twenty-Year Fixed Rate
5



Notes, the Thirty-Year Fixed Rate Notes and the Forty-Year Fixed Rate
Notes, (the "Other Notes Par Call Date" and together with the Five-Year
Notes Par Call Date, the "Par Call Date"), redeem, in whole or in part, the
Notes at par plus any accrued and unpaid interest accrued to, but
excluding, the date fixed for redemption.
Tax Redemptions ...........................................
The Issuer may redeem, in whole but not in part, all of any series of the
Notes at a redemption price of 100% of the principal amount thereof, plus
accrued and unpaid interest, if any, to (but excluding) the redemption date,
if the Issuer or any surviving entity would become obligated to pay certain
additional amounts, as described above, as a result of certain changes in
tax laws or certain other circumstances.
Transfer Restrictions ................................
The Notes have not been registered under the Securities Act or any other
applicable securities laws and are subject to restrictions on transferability
and resale.
No Prior Market ............................................
The Notes will be new securities for which there is currently no market.
Stabilization Manager................................
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Listing ...........................................................
None.
Fiscal Agent ..................................................
Deutsche Bank Trust Company Americas
Paying Agent .................................................
Deutsche Bank Trust Company Americas
Governing Law ..............................................
The Fiscal Agency Agreement and the Notes will be governed by the laws
of the State of New York.
Additional Offerings ................................
Concurrent with this offering of Notes, the Issuer is also offering separate
$1,250,000,000 Fixed Rate Notes to investors inside and outside the
United States.
Use of Proceeds .............................................
The Issuer intends to use the net proceeds of this offering for general
corporate purposes.



*Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject
to revision or withdrawal at any time.
The information in this pricing term sheet supplements the Issuer's preliminary offering
memorandum, dated October 7, 2015 (the "Preliminary Offering Memorandum"), and supersedes
the information in the Preliminary Offering Memorandum to the extent inconsistent with the
information in the Preliminary Offering Memorandum. Except as stated herein, this pricing term
sheet is qualified in its entirety by reference to the Preliminary Offering Memorandum. You may
obtain a copy of the Preliminary Offering Memorandum and Final Offering Memorandum (when
available) for this transaction by calling Barclays Capital Inc. at 1-888-603-5847, Citigroup Global
Markets Inc. at 1-800-831-9146, Credit Agricole Securities (USA) Inc. at 1-866-807-6030, Goldman,
Sachs & Co. at 1-866-471-2526, J.P. Morgan Securities LLC at 1-212-834-4533, Merrill Lynch,
Pierce, Fenner & Smith Incorporated at 1-800-294-1322, Mitsubishi UFJ Securities (USA), Inc. at 1-
877-649-6848, Mizuho Securities USA Inc. at 1-866-271-7403 or RBC Capital Markets, LLC at 1-
866-375-6829.
This notice shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale
of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The
Notes will be offered to qualified institutional buyers in reliance on Rule 144A under the Securities Act of
1933, as amended (the "Securities Act"), and to non-U.S. persons in offshore transactions outside the
United States in accordance with Regulation S thereunder. The securities have not been registered under
the Securities Act or any state securities laws, and may not be offered or sold in the United States or to U.S.
6



persons absent registration or an applicable exemption from the registration requirements of the Securities
Act. The Securities have not been approved or disapproved by the SEC or any state securities commission,
nor has the SEC or any state securities commission passed upon the accuracy or adequacy of the Offering
Memorandum. Any representation to the contrary is a criminal offense.
Any disclaimer or other notice that may appear below is not applicable to this communication and should
be disregarded. Such disclaimer or notice was automatically generated as a result of this communication
being sent by Bloomberg or another email system.
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