RWE exercises its right to call a subordinated hybrid bond that the Group issued in November 2011 on its first call date.
The redemption relates to the CHF 250 million hybrid bond with a coupon of 5.25 % (ISIN CH0136594352). The bond will be redeemed at 100 % of its nominal value. RWE is exercising its right to repay the bond on 4 April 2017 which is 5 years and 6 months after the bond was originally issued.
The call of the CHF 250 million hybrid bond follows the successful listing of innogy SE in October 2016. ‘We continue to see merits in hybrid bonds as a layer of capital. However, our solid financial position and increased equity base after the IPO of innogy allow us to redeem our CHF 250 million hybrid on its first call date’, said Markus Krebber, Chief Financial Officer of RWE AG.