- New credit line amounts to €5 billion
- Partner is a consortium of 27 international banks
In preparation of the acquisition of the renewables activities of E.ON and innogy, RWE signed a new €5 billion credit agreement on 17 April 2019. The syndicated credit line replaces the existing €3 billion agreement and secures the Group’s liquidity.
The new line consists of two tranches, with terms of two and five years. They can be prolonged for one and two years, respectively. The credit line is being provided by 27 international banks and was substantially oversubscribed.
Markus Krebber, CFO of RWE AG, emphasises, “The early refinancing of the existing credit line gives us long-term financial flexibility and will enable the smooth integration of the renewables operations of innogy and E.ON. The great feedback from our partner banks is proof of the trust in our business strategy of turning RWE into a leading renewable energy provider.”