Apollo Commits to £4.5 Billion Financing for Électricité de France, Marking the Largest Sterling-Denominated Private Credit Transaction
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
[email protected]
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
[email protected] / [email protected]
