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MarketScreener Homepage  >  Equities  >  Xetra  >  EnBW Energie Baden-Württemberg AG    EBK   DE0005220008

ENBW ENERGIE BADEN-WÜRTTEMBERG AG

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EnBW Energie Baden Württemberg : successfully issues ten-year bond with a volume of EUR500 million

10/13/2020 | 11:12am EST

EnBW Energie Baden-Wurttemberg AG today issued a senior bond with a principal amount of EUR500 million.

The bond issue has a 10-year term to maturity and a coupon of 0.250%. Thanks to significant demand - the bond was oversubscribed 4 times - EnBW was able to obtain attractive terms. This is EnBW's third issue in the current financial year, following a EUR500 million senior bond at the beginning of April and a EUR500 million green subordinated bond in mid-June.

The banking syndicate consisted of BNP Paribas and NatWest Markets as joint global coordinators and DZ BANK, Helaba and MUFG as additional joint bookrunners.

EnBW has invested heavily in the expansion of renewable energy and grids in recent years. In the next phase, the company will develop into a sustainable infrastructure partner, including for sectors beyond energy. Up to around EUR12 billion is to be invested by 2025 in further expanding the established businesses of renewables, electricity grids, electric mobility and also broadband, as well as in the expansion of new business areas. As it does so, EnBW also plans significant earnings growth to EUR3.2 billion by the end of 2025.

Thomas Kusterer, EnBW CFO: 'As a result of the portfolio transformation over the last few years, EnBW now has a robust business model with stable cash flows in its operating business. We also firmly believe that a sustainability strategy that is consistently embedded in the corporate strategy leads to better access to the capital markets, and thus enables a company to finance itself at lower cost overall.'

EnBW aims to be climate-neutral by 2035. The company adopted a specific action package for this purpose just last week.

Contact:

Tel: +49 721 63-14358

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2019 18 913 M 22 783 M 22 783 M
Net income 2019 734 M 884 M 884 M
Net Debt 2019 7 078 M 8 526 M 8 526 M
P/E ratio 2019 18,6x
Yield 2019 1,39%
Capitalization 15 032 M 17 966 M 18 108 M
EV / Sales 2018 0,57x
EV / Sales 2019 1,10x
Nbr of Employees 22 582
Free-Float 0,37%
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Managers
NameTitle
Frank Mastiaux Chief Executive Officer
Lutz Peter Feldmann Chairman-Supervisory Board
Thomas Andreas Kusterer Chief Financial Officer
Hans-Josef Zimmer Chief Technical Officer
Dietrich Herd Deputy Chairman-Supervisory Board
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