E.ON has successfully implemented the transfer of approximately €11.5 billion of innogy bonds
- Holders of innogy bonds had been offered E.ON SE as new debtor or guarantor
- 99.95 percent of all innogy bonds have successfully been transferred in Germany’s largest liability management ever
- E..ON has now fully centralized innogy’s financing activities as part of the integration process
After launching Germany’s largest liability management exercise in August 2020, E.ON has now completed the transaction to harmonize the Group’s funding structure.
In a complex, multi-step process, 17 bonds were transferred on the basis of the German Bond Act while two bonds underwent exchange offers. An outstanding 99.95 percent of the total principle has ultimately been transferred. All bonds transferred now fully benefit from E.ON’s credit ratings and transparent group financial reporting. In turn, all innogy rating contracts have been terminated.