S&C’s Frankfurt Office Advises Syndicate Banks in RWE €2 billion capital increase

August 24, 2020

On August 18, 2020, Germany's RWE Aktiengesellschaft (RWE), one of the world's leading providers of renewable energy, announced and priced a private placement of newly issued shares totaling €2 billion in an accelerated bookbuild offering with institutional investors. The net proceeds from the capital increase are planned to be invested in additional short-term capacity build-out, enhancements of pipeline and in further visible mid- and long-term growth opportunities in renewables.

S&C acted as German and U.S. counsel to Goldman Sachs, Barclays Bank and Bank of America as Joint Global Coordinators and Joint Bookrunners. Previously, S&C had advised the banks in RWE's last capital increase in 2011 and in the 2016 initial public offering of RWE's subsidiary, innogy SE, today Germany's leading energy company.

The S&C Frankfurt-based team representing the Joint Global Coordinators included Carsten Berrar, Lars Rueve, Wolfram von Frankenberg and Daniel Kornack. Clemens Rechberger advised on U.S. matters.