E.ON completes record-breaking EUR 37.1Bn loan

Dusseldorf (ots) - E.ON has completed the successful establishment
and sub-underwriting of a new EUR 37.1bn syndicated term loan and
guarantee facility. The facility will be used to support E.ON's
increased offer for Endesa of EUR 35 per share. At the time of
announcing the higher bid, E.ON also restated its commitment to a
single-A flat credit rating. The sub-underwriting was completed in
just two weeks and was oversubscribed by all 18 sub-underwriters from
the previous EUR 32bn facility recommitting to the facility at
increased levels. "This EUR 37.1bn loan represents the world's
largest ever syndicated financing facility and indicates the
international financial market's confidence in E.ON and its support
for the Endesa bid. We have clear plans for the financing and
refinancing of our bid and are presenting a strong, well planned
case", said Erhard Schipporeit, CFO of E.ON. BNP Paribas, Citigroup,
Deutsche Bank, HSBC Bank, JP Morgan and The Royal Bank of Scotland
acted as bookrunners and underwriters. Two thirds of the facility is
comprised of a one year maturity with a one year extension option at
E.ON's discretion (tranche A) and one third with a three year
maturity (tranche B). The facility is expected to be refinanced
through various debt capital market issues, internal liquidity
sources and, if necessary, asset disposals and/or a capital increase.
Pricing is based on a ratings grid with an out of the box margin of
22.5 bps on tranche A and 27.5 bps on tranche B. The facility is
expected to be launched shortly into general syndication to a select
group of E.ON's relationship banks.

This press release does not constitute an invitation to sell or an
offer to buy any securities or a solicitation of any vote or
approval. Endesa investors and security holders are urged to read
the prospectus and U.S. tender offer statement from E.ON regarding
the proposed tender offer for Endesa when they become available,
because they will contain important information. The prospectus and
certain complementary documentation will be filed in Spain with the
Spanish Comisión Nacional del Mercado de Valores (the "CNMV").
Likewise, a U.S. tender offer statement will be filed in the United
States with the U.S. Securities and Exchange Commission (the "SEC").
Investors and security holders may obtain a free copy of the
prospectus (when it is available) and its complementary documentation
from E.ON, Endesa, the four Spanish Stock Exchanges, and Santander
Investment Bolsa SV SA or Santander Investment SA, CorE.ONores de
Bolsa. The prospectus will also be available on the websites of the
CNMV (www.cnmv.es) and E.ON (www.eon.com). Likewise, investors and
security holders may obtain a free copy of the U.S. tender offer
statement (when it is available) and other documents filed by E.ON
with the SEC on the SEC's web site at www.sec.gov. The U.S. tender
offer statement and these other documents may also be obtained for
free from E.ON, when they become available, by directing a request to
E.ON AG, External Communications, Tel.: 0211- 45 79 - 4 53.
This press release may contain forward-looking statements. Various
known and unknown risks, uncertainties and other factors could lead
to material differences between the actual future results, financial
situation, development or performance of E.ON and Endesa and the
estimates given here. These factors include the inability to obtain
necessary regulatory approvals or to obtain them on acceptable
terms; the inability to integrate successfully Endesa within the E.ON
Group or to realize synergies from such integration; costs related to
the acquisition of Endesa; the economic environment of the industries
in which E.ON and Endesa operate; and other risk factors discussed in
E.ON's public reports filed with the Frankfurt Stock Exchange and
with the SEC (including E.ON's Annual Report on Form 20-F) and in
Endesa's public reports filed with the CNMV and with the SEC
(including Endesa's Annual Report on Form 20-F). E.ON assumes no
liability whatsoever to update these forward-looking statements or to
conform them to future events or developments.

Originaltext: E.ON AG
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ISIN: DE0007614406

Contact

Josef Nelles
Tel.: +49-211-4579-544


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