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EnBW successfully issues two subordinated bonds

Green Bond

Information on the subordinated bonds at a glance:

Issue size
€500 million
€500 million
Issue size
Duration
€500 million
60 years
€500 million
60 years
Issue size
Initial coupon
€500 million
1.375%
€500 million
2.125%
Issue size
Issue price
€500 million
100%
€500 million
100%
Issue size
ISIN
€500 million
XS2381272207
€500 million
XS2381277008
Issue size
Issuer
€500 million
EnBW Energie Baden-Württemberg AG
Issue size
Bond ratings
€500 million
Baa3 (Moody’s), BBB- (S&P)
Issue size
First coupon date
€500 million
31 August 2022
€500 million
31 August 2022
Issue size
Issuer’s first redemption option
€500 million
31 May 2028
€500 million
31 May 2032
Issue size
Denomination
€500 million
€100,000
Issue size

Other key
bond features
€500 million
• EnBW has the right to defer interest payments. These must be made, however, if EnBW pays dividends.
• Subordinated.
• The full bond terms and conditions can be found in the bond prospectus.
Issue size
Joint structuring advisors
€500 million
Barclays / Deutsche Bank
Issue size
Joint lead managers
€500 million
BBVA, BNP Paribas, LBBW, MUFG und NatWest
Issue size
Legal advice
€500 million
Clifford Chance Deutschland LLP (for EnBW);
Linklaters LLP (for the banks)
Issue size
Exchange
€500 million
Luxembourg
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