OREANDA-NEWS. RWE signed a new credit agreement for €4 billion yesterday. The syndicated* credit line replaces the existing agreement, also for €4 billion, and is intended to secure the Group's liquidity.

RWE is taking advantage of the favourable market environment and the continued strong confidence on the part of the banks to improve its financing conditions. The credit line is made available by an international banking consortium for an initial term of five years, with an option to renew it twice for a year at a time.

This offer met with lively interest in the banking market and was greatly oversubscribed. “Right now, in these times of huge challenges, we are very happy with this show of confidence and the continued long-term cooperation with our banking partners,” says Dr Bernhard Gunther, Chief Financial Officer of RWE AG.

"To syndicate" means to spread the loan amount and thus also the risk across several contract partners.