RWE picks up €300m with tap at 5bp issue premium

RWE, the German electricity and gas group, issued its first substantial bond of the year on Tuesday, raising €300m by tapping a €500m 10 year bond it had issued in October.

  • By Jon Hay
  • 14 Feb 2014

After €1.75bn of hybrid capital issuance in 2010 and €2bn in 2011-12 to defend its single-A ratings, RWE has settled at a stable Baa1/BBB+/BBB+.

Last year it issued two benchmark bonds: a €750m seven year in January at 68bp over mid-swaps and the €500m 10.25 year in October ...

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