Électricité de France Secures £4.5 Billion from Apollo for UK Projects
Deal News | Jun 20, 2025 | Apollo
Apollo, a global alternative asset manager, has announced a significant investment of up to £4.5 billion in fixed-rate callable notes for Électricité de France (EDF) under its €50 billion EMTN program. This financing is targeted towards EDF's projects within the UK, including the prestigious Hinkley Point C nuclear power station. The transaction marks one of the largest sterling-denominated note issuances and the largest strategy executed by EDF to date, highlighting Apollo's firm partnership with the French government and EDF. Apollo, which has a history of three decades in investing in French companies, boosts its High-Grade Capital Solutions strategy, having originated over $100 billion for major firms globally since 2020. Legal and financial counseling roles were filled by Latham & Watkins LLP, Kirkland & Ellis LLP, and BNP Paribas for Apollo and EDF. With such investments, Apollo strengthens its commitment to providing strategic financial solutions across Europe.
Sectors
- Energy
- Finance
- Legal Advisory
Geography
- United Kingdom – The financing is primarily aimed at funding EDF projects in the United Kingdom, including the Hinkley Point C nuclear power station.
- France – Électricité de France (EDF) is a French company, and Apollo has a history of investing in French firms.
- United States – Apollo, the private equity firm involved, is based in the United States.
Industry
- Energy – The article focuses on the financing of Électricité de France (EDF) projects, particularly in the energy sector.
- Finance – The article discusses a major financing deal between Apollo and EDF, emphasizing private credit transactions.
- Legal Advisory – Legal advisory roles played by Latham & Watkins and Kirkland & Ellis are highlighted in the transaction details.
Financials
- £4.5 billion – The committed financing amount from Apollo to EDF for UK projects.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Électricité de France (EDF) | Target Company | Company | EDF is a French energy company receiving financing for its UK projects. |
| Apollo | Bidding Company | Company | Apollo is a global alternative asset manager providing £4.5 billion in financing. |
| Latham & Watkins LLP | Legal Advisor | Company | Provided legal counsel to Apollo for the transaction. |
| Kirkland & Ellis LLP | Legal Advisor | Company | Also served as legal counsel to Apollo. |
| BNP Paribas | Financial Advisor | Company | Acted as financial advisor to EDF. |
| Hogan Lovells LLP | Legal Advisor | Company | Provided legal advisory services to EDF. |
| Apollo Capital Solutions Europe B.V. | Structuring and Arrangement Services | Company | Responsible for structuring and arranging the transaction. |