Chicago, June 1 – EWE AG sold €500 million of 0.25% senior green notes due June 8, 2028 (Baa1) at 99.661, a market source told Prospect News.
The notes sold at mid-swaps plus a spread of 40 basis points. Initial price talk had the notes coming at mid-swaps plus 60 bps to 65 bps. Guidance was later tightened to mid-swaps plus 40 bps to 45 bps.
The notes are being issued under the company’s €2 billion debt issuance program from July 2020.
Proceeds from the Regulation S notes will be used for eligible green projects as defined in the May 2021 green finance framework.
BNP Paribas (billing and delivery) and ING worked as global coordinators.
ING was the green structuring adviser.
Joint bookrunners were DZ Bank, Helaba and Landesbank Baden-Württemberg.
EWE is an energy, telecommunications and information technology company based in Oldenburg, Germany.
| Issuer: | EWE AG
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| Issue: | Senior green notes
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| Amount: | €500 million
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| Maturity: | June 8, 2028
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| Bookrunners: | BNP Paribas (billing and delivery), ING, DZ Bank, Helaba and Landesbank Baden-Württemberg
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| Coupon: | 0.25%
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| Price: | 99.661
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| Spread: | Mid-swaps plus 40 bps
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| Trade date: | June 1
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| Settlement date: | June 8
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| Ratings: | Moody’s: Baa1
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| Distribution: | Regulation S
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| Price talk: | Mid-swaps plus 60 bps to 65 bps
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