RWE shuns margin grid on 5+1+1 deal
German utility RWE is set to launch a five year plus one plus one Eu4bn refinancing this week, according to bankers close to the deal. But in an unusual twist that provides further evidence of some borrowers’ increasing ability to call the shots, the utility will not increase the margin offered if it is downgraded from its A2/A/A+ rating.
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