E.ON Locks In €1.8 Billion of Green Debt While Berlin Weighs a €4 Billion Urenco Buyout
Published on 11/15/2026 at 17:10 | Editorial boerse-global.de
E.ON has raised €1.8 billion through two green bond tranches, a financing move that landed the same week the German utility reaffirmed its 2026 targets and speculation swirled over a possible multibillion-euro stake sale to the German government.
The Essen-based group placed an €800 million tranche running seven years at a coupon of 4.26%, alongside a €1.0 billion tranche with an eleven-year maturity carrying a 4.59% coupon. Both were issued on Thursday.
Nine-Month Figures Keep Guidance on Track
A day earlier, E.ON reported adjusted group EBITDA of €7.1 billion for the first nine months of 2026, flat against the prior-year period. Adjusted net income climbed 4% to €2.2 billion.
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Those numbers came with a reconfirmation of the full-year outlook. Management still expects adjusted EBITDA of €9.4 billion to €9.6 billion for 2026, with adjusted group net income of €2.7 billion to €2.9 billion.
Urenco Chatter Lifts the Shares
The stock added 2.1% on Friday, a gain Reuters linked to reports that the federal government in Berlin wants to take over the Urenco stake jointly held by E.ON and RWE. According to Reuters, the plan concerns the one-third holding in the uranium enrichment company, and any deal of that size could not be completed before mid-2027 at the earliest.
dpa-AFX put a possible price tag of €4 billion on the combined stake. Neither E.ON nor RWE would comment on the speculation, and the government has not confirmed the report or the figure.
Morgan Stanley Steps Back After the Rally
Morgan Stanley cut E.ON to "Equal-weight" from "Overweight" on Monday, though it left its €21 price target untouched. The downgrade, dated 9 November, followed the stock's preceding run-up.
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