Ad hoc announcement pursuant to Art. 53 LR

Axpo refinances credit lines with EUR 7.0 billion sustainability-linked facility

21.02.2024 Axpo Holding AG has agreed an unsecured revolving committed credit facility totalling EUR 7.0 billion with an international syndicate of more than 30 banks. The facility, which includes a sustainability component, refinances two existing committed credit lines of EUR 3.0 billion each from 2022, diversifies the company’s financing structure, and increases its financial flexibility.

Due to strong demand and significant oversubscription, the credit line was increased from the original EUR 6.0 billion to EUR 7.0 billion. The new facility is for a three-year term, with extension and increase options. It can be used flexibly for both bank guarantees and loans, and is available to the company for financing current business and growth initiatives.

Following the green bond issued in July 2020 and sustainability-linked bonds placed in January 2022 and September 2022, the new credit line includes a sustainability component. The interest rate depends on the achievement of targets for the expansion of renewable energies, the proportion of women in management positions, and the number of apprentices employed.

Axpo Group CFO Harald Gauck said: "The successful refinancing of the existing credit lines confirms the confidence of the financial market in Axpo's business model and underlines the company's robust financial situation. The seven billion Euro line of credit expands our financial flexibility, while the sustainability targets once again demonstrate our commitment to a sustainable future."

Axpo Holding AG

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