RWE’s Senior and Hybrid Bonds at a Glance

At the end of February 2017, we successfully completed the legal transfer of our debt from senior bonds to innogy.

This transaction had been initiated immediately after the IPO of our subsidiary. As a result, innogy has replaced RWE AG as the guarantor for the public senior bonds and as the debtor for the privately placed bonds. Just a small residual amount of the private placement remained with RWE AG.

Currency Volume in million Maturity date Coupon (%) German Securities Code ISIN Code Paying Agent Further information
EUR 12.2 26.10.2037 3.500 A1PGV8 XS0826313990 Deutsche Bank Aktiengesellschaft

RWE has also issued the following hybrid bonds:

Curreny Volume in million First call date Coupon (%) German Securities Code ISIN Code Paying Agent Further information
EUR 539.0 21.10.2020 2.750 A14KAA XS1219498141 Deutsche Bank Aktiengesellschaft Link
EUR 281.7 21.04.2025 3.500 A14KAB XS1219499032 Deutsche Bank Aktiengesellschaft Link
USD 317.4 30.03.2026 6.625 A13SHX XS1254119750 Deutsche Bank Aktiengesellschaft Link

On 15 September 2015, RWE Aktiengesellschaft has undertaken to the respective holders of the securities that are listed in the document below as third party beneficiaries according to §?328 para. 1 German Civil Code that it will make a tender offer pursuant to which it will offer to repurchase the securities at their respective principal amounts plus any interest accrued until the day of completion of the repurchase if a change of control event has occurred.

The undertaking to effect a Tender Offer of RWE Aktiengesellschaft replaces an undertaking to effect a tender offer dated 24. September 2010, which was time limited and which expired on 28 September 2015 upon the repayment of the hybrid bond issued on 28. September 2010 (ISIN XS0542298012).

15.09.2015 - Post-Admission Duties Announcement according to Article 30e of the WpHG

For the complete text of the undertaking to effect a tender offer please see:

15.09.2015 - RWE AG Undertaking to effect a tender offer following a change of control event (PDF)

Declaration of Waiver and S&P Statement:

Notice regarding the following Subordinated Notes:

EUR 700,000,000 Subordinated Notes issued on 14 April 2015 (XS1219498141),

EUR 550,000,000 Subordinated Notes issued on 14 April 2015 (XS1219499032) and

USD 500,000,000 Subordinated Notes issued on 23 July 2015 (XS1254119750)

Declaration of Waiver:

Waiver of a certain call right pursuant to § 5(2) of the Terms and Conditions of the Subordinated Notes (PDF)

S&P Statement:

German Utility RWE AG Hybrid Equity Content Revised To Intermediate (PDF)

Frequently asked questions regarding a hybrid bond

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