innogy gets consents for 15 series; quorum not met for two others

By Wendy Van Sickle

Columbus, Ohio, Sept. 14 – innogy Finance BV announced the success of consent solicitations for 15 series of notes and that the consents solicitations for two additional series will be subject to adjourned meetings following the failure of a quorum to be met for those series.

Extraordinary resolutions announced in a solicitation memorandum dated Aug. 13 were passed via a vote without meeting that ran from Sept. 4 through Sept. 11 for the following series, according to a notice:

• The April 2021 notes (ISIN: XS0127992336);

• The July 2022 notes (ISIN: XS0437307464);

• The November 2022 notes (ISIN: XS1829217428);

• The December 2023 Notes (ISIN: XS0170732738);

• The January 2024 notes (ISIN: XS0982019126);

• The May 2026 notes (ISIN: XS1829217345);

• The October 2027 notes (ISIN: XS1702729275);

• The July 2029 notes (ISIN: XS1761785077);

• The June 2030 notes (ISIN: XS0147048762);

• The February 2033 notes (ISIN: XS0162513211);

• The April 2033 notes (ISIN: XS0909427782);

• The January 2034 notes (ISIN: XS0735770637);

• The July 2039 notes (ISIN: XS0437306904);

• The December 2042 notes (ISIN: XS0858598898); and

• The February 2043 notes (ISIN: XS0887582186).

A consent fee of 0.05% will be paid for each series.

Quorums were not met for the August 2021 notes (ISIN: XS0412842857) and the April 2025 notes (ISIN: XS1595704872). Adjourned noteholder meetings will be held for these series.

Reduced requirements to form a quorum of holders of at least 25% of the principal amount of notes outstanding apply to adjourned meetings. To be passed, an extraordinary resolution requires a majority in favor of at least 75% of the votes validly cast.

Following the acquisition of innogy by E.ON Group and implementation of a merger squeeze-out, innogy became part of E.ON Group and is being fully integrated, according to a notice.

As part of this integration process, E.ON Group has started to centralize all financing and reporting activities of the group. E.ON said it wishes to ensure bondholders are treated fairly and offered innogy bondholders to move to the same level and status as E.ON bondholders through the consent solicitation.

Citigroup Global Markets Ltd. (+44 20 7986 8969 or liabilitymanagement.europe@citi.com) and NatWest Markets NV (+44 20 7085 6124 or liabilitymanagement@natwestmarkets.com) are the solicitation agents.

Lucid Issuer Services Ltd. (+44 207 704 0880 or innogy@lucid-is.com) is the tabulation and voting agent.

The energy company is based in Essen, Germany.

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