EnBW gets €750m hybrid away at last
Energie Baden-Württemberg, the German electricity and gas group, successfully launched its long-awaited hybrid bond today, having finally spotted an acceptable market window, and raised €750m to shore up its ratings.
With the Dax 30 index opening up 0.8% this morning, after a 15.7% rally over the past month, EnBW and its leads felt investors were ready to tackle hybrid debt again.
Everything went well today, said a banker at one of the leads, Barclays Capital, Deutsche Bank, Goldman Sachs,
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