Apollo announces a £4.5 billion investment in EDF's callable notes, supporting UK energy projects, including Hinkley Point C.
Quiver AI Summary
Apollo announced a significant investment agreement involving up to £4.5 billion in fixed-rate callable notes issued by Électricité de France (EDF), a part of its €50 billion Euro Medium Term Note program. The funds will primarily support EDF's projects in the UK, particularly the Hinkley Point C nuclear power station. This transaction marks one of the largest sterling-denominated note issuances ever and is the largest capital funding exchange executed by EDF. Apollo's Partner, Jamshid Ehsani, emphasized the investment's role in bolstering European energy sovereignty and reaffirming Apollo's commitment as a capital provider for leading European companies. Apollo has a long history of investing in France and has notably supported companies like Air France-KLM. The investment further reinforces Apollo's extensive asset management capabilities, which total approximately $785 billion as of March 31, 2025.
Potential Positives
- Apollo's agreement to invest up to £4.5 billion in EDF represents one of the largest sterling-denominated note issuances on record, showcasing the company's significant market presence.
- This transaction marks the largest-ever capital funding transaction executed by EDF, thereby enhancing Apollo's reputation as a premier capital provider in Europe.
- The investment strengthens Apollo's longstanding partnership with the French government and EDF, which can facilitate future collaboration and opportunities in the energy sector.
- Through its High-Grade Capital Solutions strategy, Apollo has demonstrated its capability in originating bespoke capital solutions, having executed over $100 billion since 2020, reflecting strong operational performance.
Potential Negatives
- The investment in EDF, a company historically plagued by financial difficulties and project delays, may raise concerns about the risk exposure of Apollo in high-stakes energy projects.
- By heavily investing in the Hinkley Point C nuclear power station, Apollo might be perceived as overly reliant on a controversial and politically sensitive energy project, potentially affecting its public perception and investor confidence.
- This transaction represents a significant exposure to the European energy market, which currently faces uncertainty due to regulatory changes and market volatility, potentially impacting Apollo’s overall risk profile.
FAQ
What is the purpose of Apollo's investment in EDF?
Apollo's investment will primarily finance EDF projects in the UK, including the Hinkley Point C nuclear power station.
How much is being invested in EDF by Apollo?
Apollo-managed affiliates are investing up to £4.5 billion in fixed-rate callable notes issued by EDF.
What type of financing is being used for this transaction?
The investment comes in the form of fixed-rate callable notes under EDF's €50 billion Euro Medium Term Note program.
Which companies acted as legal counsel for Apollo?
Latham & Watkins, LLP and Kirkland & Ellis LLP were the legal counsel for Apollo in this transaction.
How long has Apollo been investing in French companies?
Apollo has a longstanding history of nearly three decades of investing in French companies.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
NEW YORK, June 20, 2025 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that Apollo-managed affiliates, funds, and strategic accounts have signed 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 Euro Medium Term Note (“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.
Apollo Partner Jamshid Ehsani said, “Apollo is pleased to provide this bespoke, large-scale financing to EDF in support of its vital role in advancing European energy sovereignty and power infrastructure, including in the UK.”
Ehsani continued, “This landmark transaction highlights our deepening partnership with the French government and EDF and reaffirms our commitment to being a premier capital provider to leading European companies. This is the largest-ever capital funding transaction executed by EDF and the largest private credit transaction in the sterling market.”
This investment also builds on Apollo’s longstanding history of investing in French companies for nearly three decades. Notably, Apollo has provided €2.5 billion of High-Grade Capital Solutions across three transactions to Air France-KLM in recent years.
Since 2020, under its High-Grade Capital Solutions strategy, Apollo has originated over $100 billion of bespoke capital solutions for leading companies such as Intel, Air France-KLM, BP, Sony, AB InBev, Vonovia, and more.
Latham & Watkins, LLP and Kirkland & Ellis LLP acted as legal counsel to Apollo while Apollo Capital Solutions Europe B.V. is providing structuring and arrangement services in connection with the transaction. BNP Paribas and Hogan Lovells, LLP acted as financial and legal advisors, respectively, to EDF.
About
Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2025, Apollo had approximately $785 billion of assets under management. To learn more, please visit
www.apollo.com
.
Apollo
Contacts
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com
/
europeanmedia@apollo.com
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