RWE increases hybrid bond in Asia

Top Quote The RWE Group today took a further step towards implementation of the hybrid capital programme announced in August 2011. A USD hybrid bond launched in March 2012 for USD 500 million was increased by another USD 500 million. End Quote
  • (1888PressRelease) June 22, 2012 - The security is aimed primarily at Asian investors in Hong Kong and Singapore. The current hybrid programme provides for a total volume of €2 billion equivalent. More than 90% of this volume has already been achieved.

    The hybrid programme is part of the package of measures to improve the capital structure that the Group has been implementing step by step since 2011. This is RWE’s fifth hybrid bond emission. The Group used this financing instrument for the first time in 2010, when it launched a euro bond. This was followed by a Swiss franc bond (2011), a sterling bond (2012) and the now increased US dollar bond.

    Hybrid bonds range between equity and debt and offer a higher coupon than senior bonds. The bond launched today matures in 2072, but RWE has the right to call, at the earliest in October 2017. The coupon amounts to 7.0% with an issue price of 101.63%. Joint lead managers are Goldman Sachs, JP Morgan and Nomura.

    Annett Urbaczka
    RWE AG
    T +49 201 12 17441

    Brigitte Lambertz
    RWE AG
    T +49 201 12 15599


    This press release and the information contained in it may not be forwarded to or distributed within the United States. Nothing in this press release constitutes an offer of securities for sale in the United States or any other jurisdiction where it is unlawful to do so. The securities mentioned herein have not been, and will not be, registered under the U.S. Securities Act of 1933 or the securities laws of any state of the U.S. and the securities may not be offered or sold within the U.S. or to, or for the account or benefit of, U.S. persons.

    Important notes for investors based in Hong Kong:

    WARNING: The contents of this release have not been reviewed by any regulatory authority in Hong Kong. You are advised to exercise caution in relation to the offer. If you are in any doubt about any of the contents of this release, you should obtain independent professional advice.

    Important notes for investors based in Singapore:

    This release has not been and will not be registered as a Prospectus (as defined in Securities and Futures Act, Chapter 289 of Singapore (the “SFA”)) with the Monetary Authority of Singapore and accordingly, this document may not be distributed, either directly or indirectly, to the public or any member of the public in Singapore, other than to institutional investors, relevant persons or persons contemplated under Section 275(1A) in compliance with the SFA and the regulations made thereunder. The person receiving this release represents and warrants that if it receives this release in Singapore it is (a) an institutional investor, (b) a relevant person, or (c) a person contemplated under Section 275(1A) of the SFA.

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