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.