Latham & Watkins Represents Apollo in £4.5 Billion Debt Financing for Électricité de France

Latham & Watkins has advised Apollo-managed affiliates, funds, and strategic accounts on the signing of an agreement to invest up to £4.5 billion in fixed-rate callable notes issued by Électricité de France (EDF) pursuant to its €50 billion EMTN program. Proceeds from the financing will be used primarily to finance EDF projects in the United Kingdom, most notably the Hinkley Point C nuclear power station.

This transaction represents one of the largest sterling-denominated note issuances on record.

The Latham corporate deal team was led by New York partner Gary Boss and London/Paris partner Roberto Reyes Gaskin, with London partner Beatrice Lo, Paris partner Pierre-Louis Cléro, and Frankfurt/London partner Otto von Gruben. Advice was also provided on French tax matters by Paris partner Olivia Rauch-Ravisé; and on US tax matters by New York partner Bora Bozkurt.