April 8 (Renewables Now) – The German electricity utility EnBW Energie Baden-Wuerttemberg AG (ETR: EBK) has issued a corporate bond of 500 million euros (542.6 million dollars) five-year term and a coupon of 0.625%.
The banking syndicate included BNP Paribas SA (EPA: BNP), Commerzbank AG (ETR: CBK), Deutsche Bank AG (ETR: DBK), HSBC Holdings plc (NYSE: HSBC) and Unicredit SpA (BIT: UCG).
EnBW said Tuesday it has been able to obtain attractive conditions in the current market environment, marked by volatility due to the COVID-19 pandemic, and the issue has been up to nine times oversubscribed.
The company said it had reached its 2020 profit target a year earlier. Three weeks ago, EnBW released its 2019 financial results, reporting adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of 2.43 billion euros, compared to 2.16 billion euros in 2018, renewable energies registering a growth of 60%.
(1.0 EUR = 1.085 USD)