RWE takes €2.1bn, investors get big discount
RWE raised €2.1bn selling new and treasury shares overnight on Monday, in a deal that represented around one quarter of all European ECM business since the beginning of August. Joint bookrunners Deutsche Bank and Goldman Sachs priced the deal with one of the widest discounts seen this year, but achieved a comfortably oversubscribed book and a strong aftermarket.
"People have been asking whether this counts as a success," said one banker close to the company. "It is a great success to get something of this size done at this time."
The company was selling 52.3m new shares and 28.1m treasury shares, representing a total of 13% of
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