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EnBW successfully issues ten-year bond with a volume of €500 million

Attractive terms / Reward for portfolio transformation in last few years / Investors support strategic development
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Karlsruhe. EnBW Energie Baden-Württemberg AG today issued a senior bond with a principal amount of €500 million. The bond issue has a 10-year term to maturity and a coupon of 0.250%. Thanks to significant demand – the bond was oversubscribed 4 times – EnBW was able to obtain attractive terms. This is EnBW’s third issue in the current financial year, following a €500 million senior bond at the beginning of April and a €500 million green subordinated bond in mid-June.

The banking syndicate consisted of BNP Paribas and NatWest Markets as joint global coordinators and DZ BANK, Helaba and MUFG as additional joint bookrunners.

EnBW has invested heavily in the expansion of renewable energy and grids in recent years. In the next phase, the company will develop into a sustainable infrastructure partner, including for sectors beyond energy. Up to around €12 billion is to be invested by 2025 in further expanding the established businesses of renewables, electricity grids, electric mobility and also broadband, as well as in the expansion of new business areas. As it does so, EnBW also plans significant earnings growth to €3.2 billion by the end of 2025.

Thomas Kusterer, EnBW CFO: “As a result of the portfolio transformation over the last few years, EnBW now has a robust business model with stable cash flows in its operating business. We also firmly believe that a sustainability strategy that is consistently embedded in the corporate strategy leads to better access to the capital markets, and thus enables a company to finance itself at lower cost overall."

EnBW aims to be climate-neutral by 2035. The company adopted a specific action package for this purpose just last week.

Information on the senior bond at a glance:
Information on the senior bond at a glance:
Volume
EUR 500 million
Information on the senior bond at a glance:
Term to maturity
10 years
Information on the senior bond at a glance:
Coupon
0.250 %
Information on the senior bond at a glance:
Issue price
99.842 %
Information on the senior bond at a glance:
Securities identification numbers
ISIN: XS2242728041
Common code: 224272804
Information on the senior bond at a glance:
Issuer
EnBW International Finance B.V.
Information on the senior bond at a glance:
Guarantor
EnBW Energie Baden-Württemberg AG
Information on the senior bond at a glance:
Bond rating
A3 (Moodys), A- (S&P), A- (Fitch)
Information on the senior bond at a glance:
First interest payment date
19.10.2021
Information on the senior bond at a glance:
Denomination
1,000 EUR
Information on the senior bond at a glance:
Global Coordinators
BNP Paribas, NatWest Markets
Information on the senior bond at a glance:
Joint Bookrunners
BNP Paribas, NatWest Markets, DZ BANK, Helaba, MUFG
Information on the senior bond at a glance:
Stock exchange
Luxembourg
Fax: Mobile: Phone:
Fax: Mobile: Phone:
Martina Evers
Group Spokesperson
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