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 400,000,000* Fixed 5.75% London Fitch BB (outlook negative)
EUR EMTN XS1072531491 23-May-14 23-May-18 EUR 40,000,000 Fixed 4.25% London No
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 
HUF EMTN XS0872725592 11-Jan-13 11-Jan-18 HUF 4,000,000,000 Fixed 11.00% London No

*Includes €100 million tap transacted in April 2015

The prospectus is dated 4 May 2017 relating to the €1,000,000,000 Euro Medium Term Note Programme.  

View it here (PDF).  

A supplement to the prospectus dated 4 May 2017 was published on 16 June 2017.  View it here (PFD).

 

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

Committed facilities

As at the end of December 2016 we had a total of c.£775 million of debt facilities in place. 

Bonds 2017 £m 2018 £m 2019 £m 2020 £m 2021 £m Total £m
Euro - 34.2 - - 341.7 375.9
Polish - - - 38.8 - 38.8
Czech - 14.2 - - - 14.2
Romanian - 12.3 15.0 - - 27.3
Hungarian - 11.0 - - - 11.0
Retail  - - - 101.5 - 101.5
Total Bonds - 71.7 15.0 140.3 341.7 568.7
 
Multi-Currency Bank Facilities  2017 £M  2018 £M  2019 £M  2020 £M  2021 £M   Total £M 
Term bank facilities 42.2 13.5 136.2 - - 191.9
Short-term facilities - - - - - -
On demand facilities 14.6 - - - - 14.6
Total bank facilites 56.8 13.5 136.2 - - 206.5
Total facilities 56.8 85.2 151.2 140.3 341.7 775.2
  7% 11% 20% 18% 44% 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 July 2016 here and the recent press release dated 8 June 2017 here.

Debt investor presentation - September 2017

On Tuesday 19 September, IPF attended the Citi European Credit Conference.  The presentation provided to debt investors can be viewed here.