E.ON signs new syndicated credit facility for €6 bn


Yesterday E.ON concluded a new credit facility for €6 bn. From 25 November it will replace the existing credit facility, whose two tranches expire in November 2010 and December 2011, respectively. The new credit facility, which has a maturity of five years, serves for general corporate purposes within E.ON’s liquidity management. The credit facility has two ticket sizes and E.ON exclusively invited banks with which it already has business relations to participate. All 30 banks responded positively to the invitation and took part in E.ON’s self-led syndication. As a result, the facility was significantly oversubscribed. Due to the positive market environment E.ON was able to obtain attractive pricing. The credit facility has a margin of under 50 basis points. E.ON is thus securing the best terms for a five-year credit facility obtained by any company with a single A rating since the start of the financial crisis. "We are pleased about the reliable support from our banking group and look forward to good cooperation in the years ahead," said E.ON CFO Marcus Schenck.

This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group management and other information currently available to E.ON. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. E.ON AG does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.