2018-11-17
http://w3.windfair.net/wind-energy/pr/29800-enbw-green-bond-investment-climate-friendly-renewable-energy-wind-solar-electric-mobility

News Release from EnBW Energie Baden-Württemberg AG

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EnBW launches first green bond

Green Financial Framework reviewed by sustainability agency ISS-oekom / €500 million bond issue maturing 2033 / investment in wind power, photovoltaics and electric mobility

Image: EnBWImage: EnBW

EnBW today successfully launched its first green bond on the capital market, with an issue size of €500 million. The bond issue, with a 15-year term to maturity, was oversubscribed within hours. The coupon is 1.875 percent.

In contrast to conventional corporate bonds, the proceeds from a green bond must be used exclusively to fund climate-friendly projects. EnBW is among the first German companies to have launched a green bond of this size. Increasing numbers of institutional investors now prefer sustainable investments.

“The transformation of our company towards renewable energies and smart infrastructure solutions is a core element of our strategy,” said CFO Thomas Kusterer. Far beyond that, however, sustainability is today an integral part of EnBW’s business model. “The fact that the bond was several times oversubscribed shows that issuing it as a green bond supports our strategy. That has also been rewarded by the capital market.”

ISS-oekom, a rating agency internationally recognised in the sustainability sector, has con-firmed that the EnBW bond complies with the Green Bond Principles. The applicable criteria were drawn up by the International Capital Market Association (ICMA). EnBW had already published its Green Financial Framework on its website on 17 October. ISS-oekom confirms the bond’s good sustainability quality and EnBW’s good sustainability performance.

In addition, EnBW’s first green bond is also certified to the high standards of the Climate Bonds Initiative (CBI). These feature detailed sector-specific criteria for qualification as green bonds. The criteria are developed by teams of experts coordinated by an advisory board comprising institutional investors and (environmental) NGOs.

Kusterer: “For EnBW, today’s issue is a logical continuation of our strategy for the company as a whole. It is thus an example of funding follows strategy.”

The proceeds from the bond launched today will be allocated to projects in the fields of wind power, photovoltaics and electric mobility.

Information on the bond at a glance:

Maturity

2033

Issue size

€500 million

Term to maturity

15 years

Issue price

99.534%

Coupon

1.875%

Securities identification numbers

ISIN: XS1901055472
Common code: 190105547
WKN: A2RTNC

Issuer

EnBW International Finance B.V.

Guarantor

EnBW Energie Baden-Württemberg AG

Key bond features

- First coupon date 31 October 2019
- Expected bond ratings: A3 (Moody’s), A- (S&P)
- Denomination €1,000

Structuring banks

Société Générale, SEB

Underwriters

BBVA, DZ Bank, LBBW,
Morgan Stanley

Exchange

Luxembourg

Source:
EnBW
Author:
Press Office
Link:
www.enbw.com/...
Keywords:
EnBW, green bond, investment, climate-friendly, renewable energy, wind, solar, electric mobility



Alle Meldungen Von EnBW Energie Baden-Württemberg AG


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