EDF, UK’s leading energy provider, has signed a €6 billion ($6.3 billion) syndicated credit facility indexed to environmental, social, and governance (ESG) indicators. The five-year facility, renewable twice for one year, adheres to the Loan Market Association’s Sustainability Linked Loans Principles and links its cost to three performance metrics: direct greenhouse gas emissions, avoided CO2 emissions, and the proportion of women among the Group’s executives.
The credit line, syndicated with 36 banks, replaces EDF’s previous €4 billion ($4.2 billion) and €1.5 billion ($ 1.6 billion) credit facilities. Key participants include Bank of America, Crédit Agricole Corporate and Investment Bank, and Mizuho Bank, with Crédit Agricole acting as the facility agent, Mizuho as the documentation agent, and MUFG and Société Générale serving as ESG coordinators.
This move reinforces EDF’s commitment to advancing a just energy transition and achieving carbon neutrality by 2050. EDF delivered 434 TWh of low-carbon output in 2023, leveraging a diverse energy mix of nuclear and renewable sources, including hydropower. EDF supplies energy and services to 40.9 million customers worldwide and reported consolidated sales of €139.7 billion in 2023.
