Funding

Funding
Debt maturity profile

Shareholder loans

 
​Loan Tranche D
​Bor​​rower: Enexis Holding N.V.
Size: ​EUR 350 million
​Maturity date: 30-9-2019
Interest rate: ​7.20%

Loan tranche D comes with the option to convert the loan into equity at our request so that we can meet the statutory minimum financial ratios. Tranche D of our shareholder loans ranks pari passu with all other senior unsecured debt of Enexis Holding N.V.

Bonds

EUR 500 million 1.875% fixed-rate notes maturing in 2020

  • Issuer: Enexis Holding N.V.
  • Amount: EUR 500 million
  • Type: Senior unsecured
  • Maturity date: 13 November 2020
  • Issue date: 13 November 2012
  • Ratings:
    ◦S&P A+
    ◦Moody's Aa3
  • Listing: NYSE Euronext Amsterdam
  • ISIN code: XS 0854400800

EUR 300 million 3.375% fixed-rate notes maturing in 2022

  • Issuer: Enexis Holding N.V.
  • Amount: EUR 300 million
  • Type: Senior unsecured
  • Maturity date: 26 January 2022
  • Issue date: 26 January 2012
  • Ratings:
    ◦ S&P A+
    ◦ Moody's Aa3
  • Listing: NYSE Euronext Amsterdam
  • ISIN code: XS 0737138460

EUR 500 million 1.5% fixed-rate notes maturing in 2023

  • Issuer: Enexis Holding N.V.
  • Amount: EUR 500 million
  • Type: Senior unsecured
  • Maturity date: 20 October 2023
  • Issue date: 20 October 2015
  • Ratings:
    ◦ S&P A+
    ◦ Moody's Aa3
  • Listing: NYSE Euronext Amsterdam
  • ISIN code: XS 1307369717

EUR 500 million 0.875% fixed-rate notes maturing in 2026

  • Issuer: Enexis Holding N.V.
  • Amount: EUR 500 million
  • Type: Senior unsecured
  • Maturity date: 28 April 2026
  • Issue date: 26 April 2016
  • Ratings:
    ◦ S&P A+
    ◦ Moody's Aa3
  • Listing: NYSE Euronext Amsterdam
  • ISIN code: XS1396367911

Debt programmes

Euro Medium Term Note (EMTN) programme

Enexis issues notes under its EMTN programme, which became effective in 2011. Features of the EMTN programme:

  • Issuer: Enexis Holding N.V.
  • Maximum size: EUR 3 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 600 million
  • Lenders: 11 banks
  • Facility Agent: Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A.
  • Maturity date: EUR 600 million untill June 2020 and EUR 545 Million untill June 2021
  • 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.

Valuation of shares Enexis Holding N.V. as per 2017/1/1

  • Bandwith enterprise value € 6,500 million - € 7,100 million
  • Bandwith shareholder value € 4,157 million - € 4,757 million
  • Bandwith value per share € 27.77 - € 31.78, with a point estimate of € 30.14 per share

At the request of our shareholders an independent external advisor, hired by Enexis Groep and its shareholder committee, presented an new independent valuation of the shares of Enexis Holding N.V. as per 1/1/2017. This concerns the valuation under market terms based on a stand-alone and going-concern situation. The valuation will be updated every year by Enexis Groep and at the start of a every regulatory period, a new independent valuation opinion will be required from an external advisor..​