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11/17/2021 | Press release | Distributed by Public on 11/17/2021 13:01

RWE successfully issues €1.35 billion green bond

RWE successfully issues €1.35 billion green bond

Essen, 17 November 2021

  • Issuance to fund growth programme 'Growing Green'
  • Attractive conditions: First tranche of €0.75 billion, with a coupon of 0.5% p.a. and tenor until 2028; second tranche of €0.6 billion, with a coupon of 1.0% p.a. and tenor until 2033

Michael Müller, CFO of RWE AG: "The response to the second green bond issued by RWE underlines that our investors support our investment and growth strategy 'Growing Green'. The proceeds will exclusively go into wind power and solar projects. We will be investing €50 billion gross in expanding our powerful, green portfolio to 50 gigawatts through to 2030. We have the financial basis to do this - due to our outstanding creditworthiness we have excellent access to the financial market and have strong cash flows from operating activities, from which we are funding by far the largest share of our growth programme."

RWE has successfully issued a further green bond with a total volume of €1.35 billion. The bond was issued in two tranches of €0.75 billion with seven-year tenor and €0.6 billion with twelve-year tenor respectively. For the first tranche, the yield-to-maturity amounts to 0.528%, based on a coupon of 0.5% p.a. and an issuance price of 99.808%. For the second tranche, the yield-to-maturity amounts to 1.077 %, based on a coupon of 1.0% p.a. and an issuance price of 99.138%. The issuance met with keen interest from investors. In June this year, RWE had already issued its first green bond with a volume of €0.5 billion.

As stated in the RWE Green Bond Framework, only wind and solar projects are eligible for green bond funding. This is in line with the United Nations' Sustainability Goal number 7 to increase the share of renewable energies in the worldwide electricity mix. In addition, RWE's framework is based on the internationally recognised Green Bond principles of the International Capital Market Association (ICMA). Furthermore, a second-party opinion has been issued from the internationally renowned sustainability agency Sustainalytics.

Greener, bigger, more valuable - that is RWE in 2030. With its new strategy 'Growing Green', RWE is massively stepping up the pace and is investing €50 billion gross in its core business. That means an average of €5 billion gross each year for offshore and onshore wind, solar, batteries, flexible generation and hydrogen. The company is thus expanding its portfolio by 25 gigawatts net to 50 gigawatts (GW) in the attractive markets of Europe, North America, and the Asia-Pacific Region.

Further information on the investment and growth strategy 'Growing Green', which RWE presented at its Capital Market Day 2021, can be found on the company website.

For any questions please contact the team of Investor Relations:

RWE Aktiengesellschaft

Investor Relations
T +49 (0) 201-5179-8025
RWE Platz 1
45141 Essen
Germany

Investor Relations
London Office
c/o RWE Supply & Trading

T +44 (0) 20 7015 5453
60 Threadneedle Street
London EC2R 8HP
United Kingdom