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 |
| 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).
The supplementary prospectus dated 31 October 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 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 (incl. BZWBK)
- Alior
- RZB
- ING
- OTP Bank
- K&H (part of the KBC Group)
- CSOB
- Deutsche
- KDB
- Gránit
- Takarek
- mBank
Committed facilities
As at 27 November 2018 we had a total of c.£884.9 million of debt facilities in place.
| Bonds | 2018 £m | 2019 £m | 2020 £m | Jan - Mar 2021 £m |
Apr - Dec 2021 £m |
2022 £m | 2023 £m |
Total £m |
|---|---|---|---|---|---|---|---|---|
| Euro | - | - | - | 363.7 | - | - | - | 363.7 |
| Polish | - | - | 41.2 | - | - | - | - | 41.2 |
| Czech | 15.4 | - | - | - | - | - | - | 15.4 |
| Romanian | 12.4 | 15.0 | - | - | - | - | - | 27.4 |
| Swedish | - | - | - | - | - | 38.4 | - | 38.4 |
| Retail | - | - | 101.5 | - | - | - | - | 101.5 |
| Total Bonds | 27.8 | 15.0 | 142.7 | 363.7 | - | 38.4 | - | 587.6 |
| Multi-Currency Bank Facilities | 2018 £M | 2019 £M | 2020 £M | Jan-Mar 2021 £M | Apr-Dec 2021 £M |
2022 £M | 2023 £M |
Total £M |
| Term bank facilities | 26.8 | 36.1 | 68.7 | 24.2 | 102.1 | 9.0 | 10.9 | 277.9 |
| On demand facilities | 19.4 | - | - | - | - | - | - | 19.4 |
| Total bank facilites | 46.2 | 36.1 | 68.7 | 24.2 | 102.1 | 9.0 | 10.9 | 297.3 |
| Total facilities | 74.0 | 51.1 | 211.4 | 387.9 | 102.1 | 47.4 | 10.9 | 884.9 |
| 8% | 6% | 24% | 44% | 12% | 5% | 1% | 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.