Hogan Lovells advises EDF on its Social Sustainability-Linked Credit Facility

Hogan Lovells has advised Electricité de France S.A. (EDF), the French majority owned state electric utility company, on a new €1.5 billion revolving credit facility providing a social sustainability-linked pricing mechanism indexed to the margin based on the following four performance indicators, with a particular focus on social responsibility:

• Women in the EDF Group (employees, managers, management committees and executives)

• Number of visits on digital consumption monitoring platforms

• Deployment rate of support actions implemented by EDF in favour of relocation and support to SMEs

• Percentage of projects for which a local consultation process is engaged in accordance with the Equator Principles

Crédit Agricole Corporate & Investment Bank is acting as Agent with Bank of America Europe and Natixis acting as ESG Coordinators.

This credit facility builds on EDF’s existing €4 billion ESG-indexed credit facility which we advised on as part of its ESG strategy to build a net zero energy future and to provide innovative solutions and services in order to help save the planet and drive wellbeing and economic development.

The Paris Hogan Lovells team advising EDF was made up of Sharon Lewis (Partner), Reza Mulligan (Counsel) and Marie-Agnès Guillemare-Grilo (Senior Associate).