E.ON SE

08/13/2020 | Press release | Distributed by Public on 08/13/2020 03:50

E.ON offers innogy bondholders to transfer approximately €11.5 billion of bonds to E.ON

Today, E.ON has launched a liability management exercise to harmonize the Group's funding structure.

Optimization measures as part of the integration synergies encompass the discontinuation of preparing and publishing consolidated innogy financials. In addition, any remaining rating contracts of innogy will be cancelled. Group-internal reorganizations are expected to reduce total assets and/or capitalization available to innogy's bondholders.

E.ON wants to ensure that bondholders are treated fairly and thus offers innogy bondholders to move to the same level and status as current E.ON bondholders. Holders of innogy bonds therefore need to act and respond to the offer as specified in the offer documents.

E.ON's CFO Marc Spieker: 'The execution of our synergy program is in full swing. Providing innogy bondholders the option to switch to E.ON is a logical step of our commitment to all our stakeholders.'

All transaction documents are available online at:

www.eon.com/innogy-bonds

Citigroup and NatWest Markets are assisting with the execution of the transaction. White & Case acts as their legal counsel.