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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 412,000,000* 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
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 12 April 2019 relating to the €1,000,000,000 Euro Medium Term Note Programme.  

View it here (PDF).  

The supplementary prospectuses dated 7 May 2019 and 22 November 2019 relating to the €1,000,000,000 Euro Medium Term Note Programme.

View the 7 May supplementary prospectus here (PDF).

View the 22 November supplementary prospectus here (PDF).  

EOM prospectus relating to Sterling Retail Bond (Exchange) - May 2019

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:

  • Citibank
  • HSBC
  • VUB
  • Unicredit
  • Santander Group
  • Alior
  • RZB
  • OTP Bank
  • K&H (part of the KBC Group)
  • CSOB
  • BGZ BNP Paribas
  • Banamex
  • KDB
  • Gránit
  • Takarek
  • mBank
  • Budapest Bank
  • CIB
  • Expobank

 

 

Committed facilities

As at 31 October 2019 we had a total of c.£896 million of debt facilities in place. 

Bonds 2019 £m 2020 £m Jan-Mar 2021 £m  Apr - Dec
2021 £m		 2022
£m		 2023
£m 		 2024
£m 		 Total £m
Euro - - 356.5 - - -  -  356.5
Polish - 40.5 -  - - - -  40.5
Romanian 14.5 - -  - - - -  14.5
Swedish - - -  - 36.2 - -  36.2
Retail  - 44.1 -  - - 78.1 -  122.2
Total Bonds 14.5 84.6 356.5 - 36.2 78.1 -  569.9
 
Multi-Currency Bank Facilities  2019 £m  2020 £m  Jan-Mar 2021 £m Apr-Dec
2021 £m		 2022
£m  		 2023
£m 		 2024
£m 		 Total £m 
Term bank facilities - - - - 35.4 - 28.4  63.8
Revolving credit facilities 5.1 84.5 4.2 82.5 62.4 - -  238.7
On demand facilities  23.4  -  -  -  -  -  -  23.4 
Total bank facilites 28.5 84.5 4.2 82.5 97.8 - 28.4  326.0
Total facilities 43.0 169.1 360.6 82.5 134.1 78.1 28.4  895.8
  5% 19% 40%  9% 15% 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 5th April 2019 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.