E.On bucks Germanic tightening trend to launch at 27.5bp

After this year’s continuing tightening of investment grade syndicated loans, Germany’s E.On turned heads this week as it priced its new five year plus one plus one refinancing transaction in line with its compatriot Daimler.

  • By Nina Flitman
  • 04 Oct 2013


The new €5bn transaction for the A3/A-/A- rated utility is being marketed at a margin of 27.5bp over Euribor. It will refinance a €6bn five year revolver signed in October 2010 at 47.5bp over. Commerzbank and UniCredit are leading the deal for E.On as co-ordinators.

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