RWE will redeem a subordinated hybrid bond that was issued in July 2012 as of the first cancellation date. The cancellation relates to a CHF 150 million hybrid bond (ISIN: CH0185843049) bearing a 5.00% coupon. The redemption will be in the nominal amount. RWE will exercise its cancellation right with effect from 26 July 2017, 5 years after the issuance of the bond.

'We are making inroads in optimising our capital structure and, as announced in March, we are reducing the volume of our hybrid bonds outstanding,' says Dr Markus Krebber, CFO of RWE AG.

Before this cancellation, the most recent redemption by RWE related to a CHF 250 million hybrid bond in April 2017. RWE will again not issue any new hybrid bonds in place of the latest cancelled bond. With the redemption, the company is taking advantage of its new headroom resulting from the IPO of innogy and reducing its interest burden.

RWE AG published this content on 09 June 2017 and is solely responsible for the information contained herein.
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