RWE’s recent €6.5 billion new issue was supposed to be about technicals triumphing over cautious sentiment towards the utility sector, but the announcement by arch rival E.on of a planned €5bn-€7bn offering soon after the launch put paid to that. RWE nonetheless did manage to issue the largest ever bond from a European utility, to finance its £8.8 billion acquisition of Innogy.

The offering was split between €2.5 billion of five-year and €1.5 billion 10-year notes led by BNP Paribas, Schroder

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: