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 
SEK EMTN  XS1839710347  15-Jun-18  15-Jun-22  SEK 450,000,000  Floating   8.75% + 3m SITBOR (0% floor) Sweden  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).  

Drawdown prospectus relating to SEK 450m bond transacted in June 18.

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 - May 2018

View our debt investor presentation here.