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.