Essen, 15 July 2004This pressinformation is more than two years old

Bond Buyback and Exchange Program Successfully Completed

  • Cash buyback tender rises to €1.25 billion due to strong demand
  • Group gross debt drops by €1.25 billion
  • New €650 million benchmark bond due July 2014
  • Bond maturity profile evened out

RWE Finance BV, a wholly owned subsidiary by RWE AG, successfully concluded the bond buyback and exchange offer announced in early July including the exchange of old bonds for new, longer-term bonds. 1,143 mio € of the 2007 5.5% RWE Finance BV bonds (original issue volume: €2.5 billion) were repurchased at a price of 106,76, and 718 mio € of the 2008 5.375% RWE Finance BV bonds were bought back at a price of 106,71. With a maturity of 2014, the new bond has a 4.625% coupon and an issue volume of €650 million, giving it benchmark status. It is being issued by RWE Finance BV with the full guarantee by RWE AG. The cash buyback offer was increased to €1.25 billion owing to high demand, but still required a pro-rating using the method prescribed by the Offer Memorandum. Taking advantage of its financial strength, RWE will reduce the Group’s gross debt by €1.25 billion. Furthermore, the re-balancing of the note maturity profile will enable the company to further optimize its financial structure.

Please contact our Investor Relations Team with any questions that you may have:

RWE Aktiengesellschaft
Investor Relations
Altenessener Straße 27
45141 Essen

T +49 (0) 201-5179-3112
RWE Aktiengesellschaft
Investor Relations
London Office
c/o RWE Supply & Trading
60 Threadneedle Street
London EC2R 8HP
United Kingdom
T +44 (0) 20 7015 5459
: This pressinformation is more than two years old