Oldenburg, Germany, 10 June 2016. The energy group EWE AG (Oldenburg), based in Lower Saxony, today successfully concluded an early partial buy-back of its own bonds and has thereby reduced its debt. Financial investors offered EWE the opportunity to buy back bonds with a nominal value totalling EUR 334.5 million, with a volume of EUR 298.4 million ultimately being realised. “With the buy-back of almost EUR 300 million in bonds, we are reducing liabilities ahead of time, as announced in April, and are lowering our interest expenses in the coming years. The funds that have been used come from the sale of our shareholding in Leipzig-based VNG AG”, explained EWE CFO, Wolfgang Mücher. The nominal value of the buy-back offer had a target volume of approximately EUR 200 million and related to three EWE bonds with a nominal value of EUR 1.5 billion, which are due to be repaid in 2019, 2020 and 2021. EWE used the financial investors’ positive response to raise the original target value by around EUR 100 million, thereby also further reducing the expected future interest expense.
EWE buys back bonds in the amount of EUR 300 million
Oldenburg-based energy group reduces future interest expenses
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