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EnBW successfully issues hybrid bonds

EUR 725 million and USD 300 million / Hybrid bonds remain key element of capital structure
The key characteristics of the bonds at a glance:
Maturity
2077
2077
Maturity
Volume
2077
EUR 725 million
2077
USD 300 million
Maturity
Term to maturity
2077
60.5 years
2077
60.5 years
Maturity
Initial coupon
2077
3.375%
2077
5.125%
Maturity
Issue price
2077
99.399 %
2077
100%
Maturity
Security Codes
2077
ISIN: XS 1405770907
WKN: A2BPFD
Common Code: 14057709
Maturity
Key bond features
2077
  • First interest payment date: 5. April 2017
  • Call options for the issuer: repayment of the bond prematurely for the first time five and a half years after the first interest payment date and thereafter at any interest payment date
  • EnBW has the right to suspend interest payments. However, these must be made when EnBW distributes a dividend
  • Bond rating: Baa2 (Moody’s), BBB- (S&P)
  • Subordinate
  • Issued in denominations of EUR 1,000 and USD 2,000
  • For full terms and conditions please see the hybrid prospectus as of 29 September 2016 (USD) and of 30 September 2016 (EUR)
Maturity
Structuring banks
2077
BNP Paribas, HSBC and J.P. Morgan
Maturity
Syndicate banks
2077
BBVA, Royal Bank of Scotland and Unicredit
Maturity
Stock exchange
2077
Luxembourg
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