Funding
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
Bonds
Issuer |
Date of issuance |
Maturity date |
Principal in EUR |
Coupon |
Type |
ISIN code |
| Enexis Holding N.V. | 26-01-2012 | 26-01-2022 | 300 million | 3,375% | Senior unsecured | XS0737138460 |
| 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 | 0,857% | 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 |
Total |
2,8 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.
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.
issuer |
Date of Issuance |
Maturity Date |
Principal in EUR |
Coupon |
Type |
Tranche |
| 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
