RWE is taking advantage of the favourable conditions for German companies on the international capital market by issuing a GBP bond with a volume of 600 million GBP and a term of 22 years. The maturity date is 31 January 2034.
Placed via RWE Finance B.V., the bond was significantly oversubscribed. The sterling bond serves both to strengthen the RWE Group’s liquidity reserves and to finance ambitious plans for expanding its offshore wind farms.
The bond was issued with a coupon of 4.75 % p.a. and an issue price of 99.82% for its 22-year term. Lead underwriters for the issue are Barclays Capital and Bank of America Merrill Lynch as well as BBVA, Lloyds Bank and Mitsubishi UFJ Securities International.
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Offshore WIND staff, January 18, 2012; Image: rwe