Press statement: EnBW signs a new EURO2.5bn syndicated facility

EnBW Energie Baden-Württemberg AG has today signed a EURO2.5bn syndicated loan facility. The new facility replaces its in June 2003 established facility. EnBW can take advantage from the current strong conditions in the bank market with improved terms and conditions versus the original facility., The facility was well received in the market, achieving oversubscription of about 50% in the syndication phase. A total of 20 national and international banks joined the facility.

The transaction was lead arranged by Barclays Capital, BayernLB, Citigroup Global Markets Limited, Deutsche Bank AG, J.P. Morgan plc and SG Corporate & Investment Banking.

The new dual tranche facility comprises a EURO1.0bn 364-day tranche with 364-day extension options and a EURO1.5bn 5-year tranche with two 364-day extension options.

With some five million customers, EnBW Energie Baden-Württemberg AG with its headquarters in Karlsruhe is the third largest energy company in Germany. In 2004, EnBW generated annual sales of approximately EURO9,844 million with around 17,700 employees. Its core activities focus on the segments electricity and gas, as well as energy and environmental services.