ESB Issues €500m 12 Year bond

Dublin, 31st January 2017.

ESB has today successfully placed a €500m 1.750% fixed-rate bond maturing in February 2029.

The bond is being purchased primarily by European institutional investors and the total amount of orders received was over EUR 1 billion for what was the first 12 year transaction seen in the Euro corporate bond market so far in 2017.

Commenting today, ESB’s Group Finance Director Pat Fenlon said; "This successful bond placement enables ESB to re-finance borrowings which are due to be repaid this year, and also helps us to extend the average maturity of our long-term debt portfolio at competitive rates which is used to fund critical electricity infrastructure for the benefit of our customers and the Irish economy."

The placement was managed by Barclays, JP Morgan, Royal Bank of Canada and Société Générale.

ENDS