The new loan arrangement is provided by a consortium of 27 international banks and replaces a cancelled credit line of €3 billion.
Earlier this year, RWE unveiled plans to add between 2GW and 3GW of new renewable energy capacity a year.
Its new credit line comes in two tranches: one with a volume of €3 billion and a five-year term, and another with a volume of €2 billion and a two-year term.
If the banks agree to an extension, the first tranche can be prolonged twice, by one year each time. The second can be extended once for a year.
Under a complex asset swap first announced in March 2018, RWE will receive the renewable assets and gas storage businesses of its subsidiary Innogy, as well as those of E.on.
Meanwhile, E.on will buy 86.2% of Innogy and its grid and retail business. In return, RWE will acquire a 16.67% "effective participation" in E.on.
In February, the European Commission and the German government both approved RWE’s planned acquisitions.
RWE announced the €5 billion credit line, which was secured in April, alongside its first-quarter results for 2019.
Its adjusted Ebitda increased 70% year on year to €510 million and its adjusted net income increased 250% to €273 million. The company attributed this growth to a "strong trading performance".
RWE expects adjusted Ebitda of between €1.2 billion and €1.5 billion for the full year and adjusted net income of between €300 million and €600 million.