RWE Group Bonds

The maturity profile of the bonds we issue is balanced. Our bonds' initial tenors range from 2 to 30 years. €3.7 billion of the (nominal) €14.8 billion in outstanding bonds will come due until 2013 (as of 30 September 2011). €1.5 billion in bonds were due for repayment in 2011. RWE's hybrid bond, which was issued in September 2010, is not included in these figures. It theoretically has an unlimited tenor. However, we have the right to redeem it for the first time after five years.

We will continue to pursue a circumspect financing policy, i.e., we will secure funds in good time and take advantage of market windows when they open up.

Maturity Profile of the RWE Group's Capital Market Debt

^{(Last updated 30 September 2011)}

With debt in foreign currencies we hedge the translation risk of our international activities. The bonds are denominated in euros, sterling, US dollars and Japanese yen. We concluded hedges to manage our currency exposure. Taking such transactions into account, our debt broke down into 72% in Euros and 28% in Sterling. We therefore do not have any currency exposure from capital market debt in US dollars or in yen.

Currency Split and Interest Structure of Capital Market Debt

^{(Last updated 30 September 2011)}