Further diversification of EnBW’s financing portfolio through bank loan with cover from the Italian export credit agency SACE

• Banking syndicate comprising BBVA, BNP Paribas CIB and Commerzbank with guarantee from Italian export credit agency SACE
• Loan linked to procurement cooperation between EnBW and potential Italian suppliers
• Sustainability-linked loan structure

Karlsruhe. As one of the largest integrated energy companies in Europe, EnBW is driving the transformation of the entire energy system. With a view to the resulting investment needs, EnBW has now taken out a €500 million loan, granted by a banking syndicate comprising BBVA, BNP Paribas CIB and Commerzbank.

The loan has a term of seven years and is secured by a guarantee from Italian export credit agency SACE for 80 percent of the outstanding loan amount plus interest. It is tied to the same ambitious sustainability indicators that apply to EnBW’s syndicated credit line. The commercial terms of the loan are in line with the costs that EnBW pays for comparable bond issues on the euro market.

In addition, as a product provided by SACE, the loan is linked to a cooperation of EnBW in the area of procurement to initiate and develop business relationships with potential Italian suppliers.

Marcel Münch, SVP Finance, M&A and Investor Relations: “I am delighted that we are able to further diversify our financing portfolio with this new loan at attractive interest rates. The sustainability-linked structure of this financing instrument also fits perfectly with our corporate strategy.”