Our hybrid capital currently stands at around €1.1 billion. At the end of 2016 it was still around €3.9 billion. In April, July and October 2017, we repaid three hybrid bonds at the earliest possible time with a nominal converted total value of about €1.3 billion. In addition to these repayments, we used part of the nuclear fuel tax to buy back further hybrid bonds with a nominal converted total value of around €0.6 billion. End of March 2019 we exercised our right to redeem the GBP 750 million hybrid bond on its first call date.
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)