Debt Funding Information

We have a strong funding position with a balanced debt portfolio including a range of bonds, wholesale and retail, at competitive cost across a number of currencies, with varying maturities including significant long-term funding, and a range of bank facilities from a core group of banks. 

Bonds

Details of all our bonds are provided in the table below: 

Description ISIN Start date Maturity date Issued amout Coupon class Coupon Listing Rating
EUR EMTN XS1054714248 07-Apr-14 07-Apr-21 EUR 400,000,000* Fixed 5.75% London Fitch BB+
EUR EMTN XS1072531491 23-May-14 23-May-18 EUR 40,000,000 Fixed 4.25% London No
GBP EMTN Retail XS0919406800 08-May-13 08-May-20 GBP 101,500,000 Fixed 6.13% London Fitch BB+
PLN PMTN PLIPFIP00033 03-Jun-15 03-Jun-20 PLN 200,000,000 Floating 4.25% + 6M WIBOR Poland No
CZK EMTN XS0996458732 21-Nov-13 21-Nov-18 CZK 250,000,000 Fixed 5.25% London No
CZK EMTN XS1331115773 10-Dec-15 10-Dec-18 CZK 200,000,000 Fixed 5.50% London No
RON EMTN XS1325222948 02-Dec-15 02-Dec-18 RON 43,500,000 Fixed 7.00% London No
RON EMTN XS1325223086 02-Dec-15 02-Dec-18 RON 22,000,000 Fixed 7.00% London No
RON EMTN  XS1527191081  06-Dec-16  06-Dec-19  RON 79,500,000  Fixed  8.00%  Ireland  No 
HUF EMTN XS0872725592 11-Jan-13 11-Jan-18 HUF 4,000,000,000 Fixed 11.00% London No

*Includes €100 million tap transacted in April 2015

The prospectus is dated 22 March 2016 relating to the €1,000,000,000 Euro Medium Term Note Programme.  

View it here (PDF).

A supplementary prospectus to the EMTN programme was published on 8 September 2016.

View it here (PDF). 

Bank facilities

Our bilateral facilities reflect a broad banking group that has a good strategic and geographical fit with our operations. These facilities range from overdrafts to three year facilities and are provided by the following institutions:

  • Citibank
  • HSBC
  • VUB
  • Unicredit
  • Santander Group (incl. BZWBK)
  • Alior
  • RZB
  • ING
  • OTP Bank
  • K&H (part of the KBC Group)
  • CSOB
  • Deutsche

Committed facilities

As at the end of June 2016 we had a total of c.£765 million of debt facilities in place. 

Bonds 2016 £m 2017 £m 2018 £m 2019 £m 2020 £m 2021 £m Total £m
Euro - - 33.4 - - 333.9 367.3
Polish - - - - 38.1 - 38.1
Czech 3.1 - 13.9 - - - 17.0
Romainian 11.2 - 12.1 - - - 23.3
Hungarian - - 10.5 - - - 10.5
Retail - - - - 101.5 - 101.5
Total Bonds 14.3 0.0 69.9 0.0 139.6 333.9 557.6
 
Multi-Currency Bank Facilities
Term bank facilities - 63.0 89.1 30.5 - - 182.6
Short-term facilities 10.0 - - - - - 10.0
On demand facilities 14.5 - - - - - 14.5
Total bank facilities 24.5 63.0 89.1 30.5 0.0 0.0 207.1
Total facilities 38.8 63.0 159.0 30.5 139.6 333.9 764.8
  5% 8% 21% 4% 18% 44% 100%

Credit rating

We have a long-term credit rating of BB+ with a negative outlook from Fitch Ratings Limited.
The Fitch rating report, which reaffirms the BB+ rating, is available to view here, dated 21 July 2016 and the recent RWN report is available to view here, dated 15 December 2016