Hengeler Mueller advises banking syndicate on issuance of RWE’s first hybrid bond

28. September 2010

On 20 September 2010, RWE AG for the first time issued a euro hybrid bond with a total volume of EUR 1.75 bn. This is the biggest ever euro hybrid bond issued by an industrial corporation in Europe.

Hengeler Mueller has advised Deutsche Bank AG and Morgan Stanley & Co. International plc as lead manager as well as BNP Paribas, Goldman Sachs and The Royal Bank of Scotland. The Hengeler Mueller team included partners Hendrik Haag (Capital Markets) and Ernst-Thomas Kraft (Tax), counsel Mathias Link (Tax) as well as associate Bianka Bielecke and Raik Petermann (Documentation Capital Markets) (all Frankfurt).