Fax: Mobile: Phone: Close Download image back to top Print
1012311000000 | IR Press Release

EnBW Issues Benchmark Loan

3 Billion Euro Medium Term Note Programme with A+/Stable and A2/Stable Ratings
Download image

Dr. Reinhard Volk: "This loan offers the company favorable financing to implement its business strategy."

Karlsruhe. Energie Baden-Württemberg AG, or EnBW, of Karlsruhe, is launching a Debt Issuance Programme (DIP) with a financing framework of 3 billion euros. With a Euro Medium Term Note Programme under this DIP, EnBW now has the ability to issue both market-listed loans and private placements. The first tranche of the program, a benchmark loan in euros, is to be launched in February 2002 and will be mainly marketed to foreign and domestic institutional investors. EnBW intends to use this loan to finance part of its takeover of Neckarwerke Stuttgart AG, of Stuttgart some time in 2002.

Our dual growth strategy is directed both internally and externally. EnBW is growing both in its existing companies and through acquisitions and participations. The company is thus continuing to pursue the further development of its core business, energy, using the advantages of the liberalization of the European energy markets. The loan offers the company favorable financing to implement its business strategy. With this loan, EnBW wants to take advantage of the current low interest levels, according to Dr. Reinhard Volk, CFO of the third-largest German energy company.

Key Data
Key Data
DIP Volume
3 bil. euros
Key Data
DIP Issuing Agent
Barclays Capital
Key Data
Lead Managers of the Loan
Barclays Capital, Deutsche Bank
Key Data
Stock Market Listing
Luxemburg
Key Data
Long-term ratings: Moody's / Standard & Poor's
A2 stable outlook/A+ stable outlook
Key Data
Short-term ratings: Moody's / Standard & Poor's
Prime-1 / A-1
Download image

EnBW AG plans to put on a road show throughout Europe in mid-February in the run-up to the loan issuance. The final conditions of the loan will be established in connection with that. EnBW CFO Dr. Reinhard Volk: With the DIP, EnBW is continuing its activities on the international foreign capital market. Ratings company Standard & Poor’s has attested to EnBW’s strong market position and solid financial and earnings base and given a rating of A+/stable."
Ratings company Moody’s awarded it an A2/stable rating. They base their estimation on EnBW’s strong regional presence, its good shareholder structure and its solid financial profile.

EnBW: the enterprise

Energie Baden Württemberg AG (EnBW) is the third-largest energy company in Germany, one of the most strongly liberalized markets in Europe. Furthermore, EnBW is active in the segments waste management and industrial services. In the European markets, too, the enterprise is very active and co-operates with renowned partners. EnBW realized a turnover of € 7.8 b in 2001 (previous year € 5.8 b). The group is active in 12 countries and employs 44,500 staff members. Group sales of electricity amounted to 97.3 terawatt hours in 2001. EnBW disposes over an energy plant capacity of approximately 13,500 MW.

The EnBW share is listed on the stock exchanges in Frankfurt and Stuttgart. Major shareholders are the German Regional Corporate Association (OEW), with 34.5 %, and Electricité de France (EDF), also with 34.5 %.

After the liberalization of the German energy market, which became effective in 1998, EnBW was the first enterprise to build up a business and sales structure, for the delivery of energy throughout Germany.

EnBW has 4.2 million customers in Germany. The EnBW subsidiary, Yello Strom GmbH., has been able to win 700,000 new private customers throughout Germany, within a period of only two-and-one-half years.

Fax: Mobile: Phone:
Fax: Mobile: Phone:
Corporate Communications
EnBW Energie Baden-Württemberg AG
Durlacher Allee 93
76131 Karlsruhe
Show video
Show YouTube video?

Please note the privacy policy of YouTube.

Related News