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 397,274,000 Fixed 5.75% London Fitch BB 
GBP EMTN Retail XS1998163148 14-Jun-19 14-Dec-23 GBP 78,100,000 Fixed 7.75% London Fitch BB, Moody's Ba3 
SEK EMTN  XS1839710347  15-Jun-18  15-Jun-22  SEK 450,000,000  Floating   8.75% + 3m SITBOR (0% floor) Sweden  No 

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: 

  • Alior Bank S.A.
  • Budapest Bank Zrt.
  • mBank S.A.
  • Československa Obchodni Banka A.S.
  • Citibank Europe plc, Dublin (Romania)
  • Citi Handlowy (Poland)
  • Citibank Europe plc (Hungary)
  • Citibanamex (Mexico)
  • CIB Bank Zrt.
  • Expobank CZ a.s.
  • GRÁNIT Bank Zrt.
  • HSBC Bank PLC
  • HSBC México, S. A.
  • KDB Bank Európa Plc
  • K&H Bank Zrt.
  • OTP Bank Romania S.A. (Romania)
  • OTP Bank Nyrt (Hungary)
  • Raiffeisenbank A.S (Czech Republic)
  • Santander Bank Polska S.A.
  • Takarékbank Zrt.
  • UniCredit Bank S.A. (iRomania)
  • UniCredit Bank Hungary Zrt. (Hungary)
  • VÚB, 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 - 362.8 - - 362.8
Swedish - - 38.8 - 38.8
Retail  - - - 78.1 78.1
Total Bonds - 358.1 - 39.1 78.1 - 479.6
 
Multi-Currency Bank Facilities  2020 £m  Jan-Mar 2021 £m Apr-Dec
2021 £m
2022
£m  
2023
£m 
2024£m  Total £m 
Term Loans - 7.5 - 26.3 - 27.1 61.0
Revolving credit facilities 39.8 17.5 84.5 63.1 - 204.9
On demand facilities  12.3 - 12.3
Total bank facilites 52.1 25.0 84.5 89.5 - 27.1 278.2
Total facilities 52.1 387.8 84.5 128.2 78.1 27.1 757.8
  7% 51%  11% 17% 10%  4%  100%

Credit rating

We have a long-term credit rating of BB- (Watch Negative) from Fitch Ratings Limited.
Please find the Fitch announcement dated 16 October 2020 here

 

We have a long-term credit rating of Ba3 (Outlook Stable) from Moodys Investor Services Limited.
Please find the Moodys' report dated 22nd May 2020 here