Yesterday E.ON concluded a new syndicated credit facility amounting to € 5 billion. The new facility replaces the existing facility of € 6 billion expiring in 2015 with immediate effect.
Due to the early refinancing E.ON benefits from the positive market environment and was able to obtain attractive pricing terms. The new credit facility carries a margin of 27.5 basis points and has a maturity of 5 years plus two options for extension by one year respectively.
The new credit facility serves for general corporate purposes within E.ON's liquidity management.
E.ON invited exclusively banks with which it already has good business relations. Those banks were invited to participate in two ticket sizes. All invited 24 banks responded positively to the invitation and took part in E.ON’s primarily self-arranged syndication. As a result, the facility was significantly oversubscribed.
"We are pleased about the reliable support from our core banking group in this successful refinancing and look forward to good cooperation in the years ahead," said E.ON’s CFO Klaus Schäfer.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 SE 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.