Debt programmes

Euro Medium Term Note (EMTN) programme

Enexis issues notes under its EMTN programme, which has been updated on 4 June 2020 and supplemented on 6 April 2021. Features of the EMTN programme:

  • Issuer: Enexis Holding N.V.
  • Maximum size: EUR 4 billion
  • Arranger: Rabobank
  • Dealers: see Base Prospectus
  • Fiscal and Paying Agent: Deutsche Bank AG, London branch

Euro Revolving Credit Facility (RCF)

Enexis has a committed credit facility (RCF) with the following features:

  • Issuer: Enexis Holding N.V.
  • Size: EUR 850 million until December 2024 and EUR 686 million until December 2025
  • Lenders: 8 banks
  • Facility Agent: ING N.V.
  • Maturity date: December 2025
  • Use: For general business purposes

Euro commercial paper programme (ECP)

Enexis Holding N.V. has established an ECP programme in december 2016, with the following features:

  • Issuer: Enexis Holding N.V.
  • Maximum size: EUR 1 Billion
  • Arranger: Rabobank
  • Dealers: BNP Paribas, ING, NatWest Markets, Rabobank
  • Issuing and Paying Agent: Citigroup Inc.

(Green) financing


Date of issuance
Maturity date
Principal in EUR
ISIN code
Enexis Holding N.V. 20-10-2015 20-10-2023 500 million 1,5% Senior unsecured XS1307369717
Enexis Holding N.V. 26-04-2016 28-04-2026 500 million 0,875% Senior unsecured XS1396367911
Enexis Holding N.V. 02-07-2019 02-07-2031 500 million 0,75% Senior unsecured XS201997607
Enexis Holding N.V. 17-06-2020 17-06-2032 500 million 0,625% Senior Unsecured; green bond XS2190255211
Enexis Holding N.V. 14-04-2021 14-04-2033 500 million 0,375% Senior Unsecured; green bond XS2331315635
2,5 billion

Green Financing

Enexis has drawn up a 'Green Finance Framework' that serves as a framework for monitoring the sustainability quality of eligible green assets when issuing green financing instruments. ISS ESG has carried out a Second Party Opinion (SPO) for the framework.

Issue of outstanding green bonds

In June 2020, Enexis Holding N.V. issued her debut green bond for an amount of EUR 500 million and in April 2021 the second green bond was issued for an amount of EUR 500 million. Both green bonds were drawn under the existing EMTN program and are included in the overview of all outstanding drawings under this program.


In June 2021 Enexis published its first Green Bond Impact & Allocation report. This report provides insight in which activities are financed using the green bonds issued by Enexis Holding N.V. in June 2020 and April 2021 and the environmental impact of these investments.

Convertible shareholder loan

July & November 2020 - Convertible Hybrid Shareholder Loan

In two tranches Enexis Holding N.V. issued a 60-year convertible hybrid shareholder loan for a total amount of EUR 500 million. The interest for tranche A and B until the first interest revision date of November 29, 2030 is 2,15% and 1,40% respectively. The loan is subordinated to all other Enexis debts. Enexis has the right to convert the loan into shares if Enexis' credit rating falls or threatens to fall below the A (Standard & Poors) or A2 (Moody) level. Furthermore, Enexis has the option to repay the loan on November 29, 2030 and every ten years thereafter. S&P has assigned intermediate equity credit to the loan.


Date of Issuance
Maturity Date
Principal in EUR
Enexis Holding N.V. 29-7-2020 29-11-2080 421,7 million 2,15% Subordinated A
Enexis Holding N.V. 30-11-2020 29-11-2080 78,3 million 1,40% Subordinated B
Total     500 million      

Debt maturity profile

Debt maturity profile