RWE’s senior and hybrid bonds at a glance

Senior bond restructuring: Change of Guarantor (Finance BVs Bonds) and Change of Issuer (RWE AG bonds)

innogy has launched a consent solicitation to change the guarantor of the Finance BVs senior bonds from RWE AG to innogy SE.
Furthermore a corresponding process has been commenced to exchange the issuer from RWE AG to innogy SE for the currently remaining senior bonds at RWE AG (private placements).
Further information and the respective documents can be found under the below link:

Bond restructuring

Attractive financing conditions

Bonds are an attractive and cost-effective source of financing for us. We largely meet our financing needs with cash flows from our operating activities. In addition, we have access to a number of flexible financing instruments. We raise long-term debt capital primarily within the scope of our Debt Issuance Programme. The programme enables us to issue a total of €30 billion in bonds.

RWE's senior bonds

(as of April 2016)

CurrencyVolume in millionMaturity date Coupon (%)       German Securities Code           ISIN Code Further information 
EUR100.015.11.2017floating748536XS0158243013private placement
EUR980.023.07.20185.125957955XS0172851650Link
EUR1,000.031.01.20196.625A0T3SPXS0399647675Link
EUR750.030.01.20201.875A1HE5DXS0878010718Link
GBP570.020.04.20216.500648663XS0127992336Link
EUR1,000.010.08.20216.500A0T6L6XS0412842857Link
GBP500.006.07.20225.500A1AJN3XS0437307464Link
GBP487.506.12.20235.625878761XS0170732738Link
EUR800.017.01.20243.000A1HR28XS0982019126Link
GBP760.003.06.20306.250855328XS0147048762Link
EUR600.014.02.20335.750748537XS0162513211Link
USD50.005.04.20333.800A1R1BHXS0909427782private placement
GBP600.031.01.20344.750A1GZLKXS0735770637Link
EUR500.026.10.20373.500A1PGV8XS0826313990private placement
GBP1,000.006.07.20396.125A0AJN2XS0437306904Link
JPY20,000.017.02.2040Not publishedNot publishedNot publishedprivate placement
EUR100.003.12.20423.500A1R057XS0858598898private placement
EUR150.013.02.20433.550A1TM2XXS0887582186private placement

RWE's hybrid bonds

(as of 2 October 2015)

CurrencyVolume in millionMaturity dateCoupon (%)German Securities CodeISIN Codefurther information
CHF250.004.04.201715.250A1MAVPCH0136594352Link
CHF150.026.07.201715.000A1PGUUCH0185843049Link
GBP750.020.03.201917.000A1ML0GXS0652913988Link
USD1,000.012.10.201717.000A1ML2EXS0767140022Link
EUR700.021.10.202012.750A14KAAXS1219498141Link
EUR550.021.04.202513.500A14KABXS1219499032Link
USD500.030.03.202616.625A13SHXXS1254119750Link

1) first call date

On 15 September 2015, RWE Aktiengesellschaft has undertaken to the respective holders of the securities that are listed in the document below as third party beneficiaries according to § 328 para. 1 German Civil Code that it will make a tender offer pursuant to which it will offer to repurchase the securities at their respective principal amounts plus any interest accrued until the day of completion of the repurchase if a change of control event has occurred.
The undertaking to effect a Tender Offer of RWE Aktiengesellschaft replaces an undertaking to effect a tender offer dated 24. September 2010, which was time limited and which expires on 28 September 2015 upon the repayment of the hybrid bond issued on 28. September 2010 (ISIN XS0542298012).

15.09.2015 - Post-Admission Duties Announcement according to Article 30e of the WpHG

 

For the complete text of the undertaking to effect a tender offer please see:

15.09.2015 - RWE AG Undertaking to effect a tender offer following a change of control event (PDF | 2.1 MB)

 

Declaration of Waiver and S&P Statement:

Notice regarding the following Subordinated Notes:

EUR 700,000,000 Subordinated Notes issued on 14 April 2015 (XS1219498141),
EUR 550,000,000 Subordinated Notes issued on 14 April 2015 (XS1219499032) and
USD 500,000,000 Subordinated Notes issued on 23 July 2015 (XS1254119750)

Declaration of Waiver:

Waiver of a certain call right pursuant to § 5(2) of the Terms and Conditions of the Subordinated Notes (PDF | 87 KB)

S&P Statement:

German Utility RWE AG Hybrid Equity Content Revised To Intermediate (PDF | 0.3 MB)