- Hybrid bond issued in Swiss francs
- Equivalent of €2 billion in total volume achieved
RWE today successfully launched a further hybrid bond of 150 million Swiss francs, thus completing the hybrid bond programme announced in August 2011. The hybrid programme had a total volume of €2 billion. It included bonds in Swiss francs, pounds sterling and US dollars.
The bond placed today matures in 60 years and can be called by RWE after 5 years at the earliest. It is aimed solely at investors residing in Switzerland and institutional investors. Hybrid bonds are a mix of equity and debt capital and offer a higher coupon than normal bonds. The RWE hybrid offers a coupon of 5.0% at an issue price of 100%. Sole book runner of this transaction was UBS.
“The hybrid programme is an important pillar of our package of measures to improve our capital structure for the long term”, said RWE’s CFO Dr. Rolf Pohlig. The Group implemented the programme quickly in a difficult market environment. “Investors are putting a lot of trust in RWE – that is a good sign. I am delighted that we have been able to complete this ambitious programme in less than one year.”
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