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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 amount Coupon class Coupon Listing Rating
EUR EMTN XS1054714248 07-Apr-14 07-Apr-21 EUR 406,124,000* Fixed 5.75% London Fitch BB (outlook stable)
GBP EMTN Retail XS0919406800 08-May-13 08-May-20 GBP 44,098,100 Fixed 6.125% London Fitch BB (outlook stable)
GBP EMTN Retail XS1998163148 14-Jun-19 14-Dec-23 GBP 78,100,000 Fixed 7.75% London Fitch BB, Moody's Ba3 (outlook stable)
PLN PMTN PLIPFIP00033 03-Jun-15 03-Jun-20 PLN 200,000,000 Floating 4.25% + 6M WIBOR Poland No
SEK EMTN  XS1839710347  15-Jun-18  15-Jun-22  SEK 450,000,000  Floating   8.75% + 3m SITBOR (0% floor) Sweden  No 

*€6 million bond buybacks in Q4 2019.

The prospectus is dated 13 March 2020 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 five year facilities and are extended on a rolling basis.  A list of the banking institutions are detailed below: 

  • HSBC Bank Plc
  • VUB Banka
  • CIB Bank
  • Unicredit Bank S.A. (In Romania) 
  • Unicredit Bank Hungary Zrt. (In Hungary)
  • Santander Bank 
  • Alir Bank
  • Raifffeisenbank A.S. (In CZ Republic)
  • OTP Bank Romania SA (In Romania)
  • OTP Bank (In Hungary)  
  • K&H Bank Zrt.
  • Československá Obchodní Banka, A.S 
  • Bnp Paribas Bank Polska S.A
  • Banco Nacional De México, S.A., Integrante Del Grupo Financiero Banamex 
  • Citibank Europe Plc, Dublin - Romania Branch
  • Citibank Europe Plc, Hungarian Branch
  • Kdb Bank Európa Zrt.
  • Gránit Bank
  • Takarék Kereskedelmi Bank Zrt.
  • Mbank
  • Budapest Bank
  • EXPOBANK CZ A.S.

 

Committed facilities

As at 31 December 2019 we had a total of c.£861.6 million of debt facilities in place. 

Bonds 2020 £m Jan-Mar 2021 £m  Apr - Dec
2021 £m		 2022
£m		 2023
£m 		 2024
£m 		 Total £m
Euro - 343.6 - - -  -  343.6
Polish 39.8 -  - - - -  39.8
Swedish - -  - 36.3 - -  36.3
Retail  44.1 -  - - 78.1 -  122.2
Total Bonds 83.9 343.6 - 36.3 78.1 -  541.9
 
Multi-Currency Bank Facilities  2020 £m  Jan-Mar 2021 £m Apr-Dec
2021 £m		 2022
£m  		 2023
£m 		 2024
£m 		 Total £m 
Term Loans - - - 34.5 - 27.6 62.1
Revolving credit facilities 87.6 - 81.4 64.9 - -  233.9
On demand facilities  23.7 -  -  -  -  -  23.7 
Total bank facilites 111.3 - 81.4 99.4 - 27.6  319.7
Total facilities 195.2 343.6 81.4 135.7 78.1 27.6  861.6
  23% 40%  9% 16% 9%  3%  100%

Credit rating

We have a long-term credit rating of BB (Outlook Stable) from Fitch Ratings Limited.
Please find the Fitch report dated 10 March 2020 here. 

 

We have a long-term credit rating of Ba3 (Outlook Stable) from Moodys Investor Services Limited.
Please find the Moodys' report dated 26th April 2019 here. 

Investor presentation May 2019

View our investor presentation here.