Innogy issues EUR-1bn bond

Monday 29 January 2018

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German energy company Innogy SE (ETR:IGY) on Wednesday announced that it has completed the placement of a EUR-1-billion (USD 1.24bn) senior bond.

With the proceeds the company will refinance maturing liabilities and finance general corporate purposes. The offering attracted significant market interest and was several times oversubscribed, Innogy noted.

The bond matures in 11 and a half years and bears an annual coupon of 1.5%. Guaranteed by Innogy SE, it was placed by Innogy Finance BV with Barclays, Santander, BNP Paribas, Credit Suisse, Helaba and RBC Capital Markets serving as bookrunners.

Innogy is a subsidiary of RWE AG (ETR:RWE), created to hold its renewables, grids and retail businesses. It has roughly a gigawatt of installed offshore wind capacity (pro-rata) and about 1.8 GW of onshore wind (pro-rata). As part of its strategy the company will also grow in the large-scale solar sector.  

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