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 412,000,000* Fixed 5.75% London Fitch BB (outlook negative)
GBP EMTN Retail XS0919406800 08-May-13 08-May-20 GBP 101,500,000 Fixed 6.125% London Fitch BB (outlook negative)
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 

*Includes €100 million tap transacted in April 2015 and €12 million tap transacted in December 2017

The prospectus is dated 8 May 2018 relating to the €1,000,000,000 Euro Medium Term Note Programme.  

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
  • KDB
  • Gránit

 

Committed facilities

As at the end of December 2017 we had a total of c.£867.0 million of debt facilities in place. 

Bonds 2018 £m 2019 £m 2020 £m 2021 £m 2022 £m Total £m
Euro 25.3 - - 368.4 - 393.7
Polish - - 43.0 - - 43.0
Czech 15.8 - - - - 15.8
Romanian 12.5 15.2 - - - 27.7
Hungarian 11.5 - - - - 11.5
Retail  - - 101.5 - - 101.5
Total Bonds 65.1 15.2 144.5 368.4 - 593.2
 
Multi-Currency Bank Facilities  2018 £M  2019 £M  2020 £M  2021 £M  2022 £M   Total £M 
Term bank facilities 48.3 52.9 90.3 62.4 - 253.9
Short-term facilities - - - - - -
On demand facilities 19.9 - - - - 19.9
Total bank facilites 68.2 52.9 90.3 62.4 - 273.8
Total facilities 133.3 68.1 234.8 430.8 - 867.0
  15% 8% 27% 50% 0% 100%

Credit rating

We have a long-term credit rating of BB (Outlook Negative) from Fitch Ratings Limited.
Please find the Fitch report dated 21 May 2018 here

Debt investor presentation - September 2017

On Tuesday 19 September, IPF attended the Citi European Credit Conference.  The presentation provided to debt investors can be viewed here.