Clifford Chance Advises Banking Syndicate on RWE’s US$1.5 Billion U.S. Green Bond

Clifford Chance advised an international banking syndicate comprising BofA Securities, Inc., BBVA Securities Inc., Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Intesa Sanpaolo IMI Securities Corp., Mizuho Securities USA LLC, MUFG Securities Americas Inc., RBC Capital Markets, LLC and SMBC Nikko Securities America, Inc. on the U.S. bond issuance by RWE AG, providing advice on U.S. securities law, New York law and German law in connection with the offering. In a Rule 144A U.S. offering, RWE AG successfully placed a green U.S. dollar bond with a total volume of US$1.5 billion. The issuance was structured in two tranches of US$750 million each: a five-year tranche and a ten-year tranche. This transaction represents RWE’s third green bond placement outside Europe. The proceeds of the bonds will be used to finance or refinance eligible green projects in accordance with RWE AG’s Green Financing Framework, which covers investments in renewable energy generation and storage as well as hydrogen production and storage. Clifford Chance represented the banking syndicate comprising BofA Securities, Inc., BBVA Securities Inc., Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Intesa Sanpaolo IMI Securities Corp., Mizuho Securities USA LLC, MUFG Securities Americas Inc., RBC Capital Markets, LLC and SMBC Nikko Securities America, Inc. with a team composed by: George Hacket, capital markets partner (Frankfurt) — team lead; Andrei Manea, counsel (Frankfurt); Gordana Golubic-Huertas, senior associate (Frankfurt); Cristina Freudenberger, partner (Frankfurt) — advised on German law aspects; Felicitas Fisher, transaction lawyer (Frankfurt) — advised on German law aspects; Avrohom Gelber, partner (New York) — advised on U.S. tax; Milica Pavlovic, associate (New York) — advised on U.S. tax.

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Clifford Chance Advises Banking Syndicate on RWE’s US$1.5 Billion U.S. Green Bond

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Clifford Chance Advises Banking Syndicate on RWE’s US$1.5 Billion U.S. Green Bond

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