EnBW successfully issues two bonds for €500 million each with maturities of 7 and 12 years

Karlsruhe. EnBW Energie Baden-Württemberg AG today issued two corporate bonds with a combined principal amount of €1 billion. The bond with an 7-year term to maturity has a coupon rate of 0.125%. The bond with an 12-year term to maturity has a coupon rate of 0.500%. The bonds were about 3.0 times oversubscribed in a short period of time. Thanks to the high demand EnBW secured attractive terms.

The banking syndicate consisted of Citigroup, ING and Morgan Stanley as joint global coordinators and BayernLB, Commerzbank, HSBC and SEB as additional joint bookrunners.

Over the last several years, as a result of strategic portfolio restructuring through to the end of 2020, EnBW has notably increased the proportion of earnings contributed by grids and renewable energies. Under the EnBW 2025 Strategy, EnBW is evolving into a sustainable and innovative infrastructure provider. Adjusted EBITDA is targeted to reach EUR 3.2 billion by the end of 2025.

Ingo Peter Voigt, Head of M&A, Finance and Investor Relations: “With our integrated portfolio approach, we have a robust business model. We have already proven this in the past with stable cash flows in the operating business. We are advancing our sustainability strategy with suitable investment projects. To this end, we continue to leverage our excellent capital market access.”