EnBW successfully issues two green bonds
Karlsruhe. EnBW today issued two green corporate bonds with a combined issue size of €1.2 billion. This means that EnBW has already successfully implemented the capital market financing planned for 2024 by the middle of the year.
Deputy CEO and CFO Thomas Kusterer: “Our strategy is clearly focused on sustainability and decarbonization, and therefore on implementing the energy transition. This also applies to our investments and how they are financed. Including today’s issue, we have now already issued green bonds totaling €6.7 billion. At least 85% of our new issues are to be sustainable by 2030.”
As Germany’s largest integrated energy company, EnBW is driving forward all aspects of the energy transition and will invest around €40 billion for this purpose by 2030.
The proceeds from today’s issue will be used in their entirety to finance climate-friendly, EU Taxonomy-aligned projects. EnBW published its updated Green Financing Framework for this purpose only last week. The Green Financing Framework is the basis for all green finance issues.
The green bonds have a term of seven and twelve years and a coupon of 3.500 and 4.000 percent respectively.
The issue date in each case is 22 July 2024.
Information on the bonds at a glance:
|
Issue size
|
€650 million
|
€550 million
|
|---|---|---|
|
Issue size
Coupon
|
€650 million
3.500%
|
€550 million
4.000%
|
|
Issue size
Issue price
|
€650 million
99.585 %
|
€550 million
99.953 %
|
|
Issue size
Securities identification numbers
|
€650 million
ISIN: XS2862984510
|
€550 million
ISIN: XS2862984601
|
|
Issue size
Term to maturity
|
€650 million
7 years
|
€550 million
12 years
|
|
Issue size
Maturity
|
€650 million
22 July 2031
|
€550 million
22 July 2036
|
|
Issue size
Issuer
|
€650 million
EnBW International Finance B.V.
|
|
|
Issue size
Guarantor
|
€650 million
EnBW Energie Baden-Württemberg AG
|
|
|
Issue size
Bond ratings
|
€650 million
A- (S&P) / Baa1 (Moody’s)
|
|
|
Issue size
Denomination
|
€650 million
€1,000.00
|
|
|
Issue size
Global Coordinators
|
€650 million
Barclays, BNP Paribas und ING
|
|
|
Issue size
Joint Bookrunners
|
€650 million
Barclays, BNP Paribas, Commerzbank, Crédit Agricole CIB, DZ Bank, ING und LBBW
|
|
|
Issue size
Exchange
|
€650 million
Luxembourg
|
|
About Energie Baden-Württemberg AG
With a workforce of over 28,000 employees, EnBW is one of the largest energy supply companies in Germany and Europe. It supplies electricity, gas and water together with infrastructure and energy-related products and services to around 5.5 million customers. In the company’s transformation from a traditional energy provider to a sustainable infrastructure group, the expansion of renewable energy sources and of the distribution and transportation grids for electricity and gas are cornerstones of EnBW’s growth strategy and the focus of its investment spending. EnBW plans gross investment of €40 billion by 2030, around 90 percent of which will be in Germany. EnBW aims for renewables to account for over half of its generation portfolio by as early as the end of 2025 and to phase out coal by the end of 2028. These are key milestones on the way to company’s carbon neutrality by 2035. www.enbw.com