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 | XS2256977013 | 12-Nov-20 | 12-Nov-25 | EUR 341,228,000 | Fixed | 9.75% | London | Fitch BB-, Moody’s Ba3 |
| GBP EMTN Retail | XS1998163148 | 14-Jun-19 | 14-Dec-23 | GBP 78,100,000 | Fixed | 7.75% | London | Fitch BB-, Moody's Ba3 |
| SEK EMTN | XS1839710347 | 15-Jun-18 | 15-Jun-22 | SEK 450,000,000 | Floating | 8.75% + 3m SITBOR (0% floor) | Sweden | No |
The prospectus is dated 13 March 2020 relating to the €1,000,000,000 Euro Medium Term Note Programme.
View it here (PDF).
The drawdown prospectus is dated 10 November 2020 relating to the €341,228,000 Senior Unsecured Notes due 2025 under €1,000,000,000 Euro Medium Term Note Programme.
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:
- Alior Bank S.A.
- Budapest Bank Zrt.
- mBank S.A.
- Československa Obchodni Banka A.S.
- CIB Bank Zrt.
- Expobank CZ a.s.
- GRÁNIT Bank Zrt.
- HSBC Bank PLC
- HSBC México, S. A.
- KDB Bank Európa Plc
- K&H Bank Zrt.
- OTP Bank Romania S.A. (Romania)
- OTP Bank Nyrt (Hungary)
- Santander Bank Polska S.A.
- Takarékbank Zrt.
- UniCredit Bank S.A. (Romania)
- UniCredit Bank Hungary Zrt. (Hungary)
- VÚB, a.s.
Debt facilities
As at 30 June 2021 we had a total of c.£596 million of debt facilities in place.
| Bonds | 2021 £m |
2022 £m |
2023 £m |
2024 £m |
2025 £m |
Total £m |
|---|---|---|---|---|---|---|
| Euro | - | - | - | - | 293.4 | 293.4 |
| Swedish | - | 37.9 | - | - | - | 37.9 |
| Retail | - | - | 78.1 | - | - | 78.1 |
| Total Bonds | - | 37.9 | 78.1 | - | 293.4 | 409.4 |
| Multi-Currency Bank Facilities | 2021 £m |
2022 £m |
2023 £m |
2024 £m |
2025 £m |
Total £m |
| Term Loans | - | 20.5 | 12.1 | 26.1 | - | 58.7 |
| Revolving credit facilities | 52.4 | 12.7 | 24.2 | - | - | 89.3 |
| On demand facilities | 38.7 | - | - | - | - | 38.7 |
| Total bank facilites | 91.1 | 33.2 | 36.3 | 26.1 | - | 186.7 |
| Total facilities | 91.1 | 71.1 | 114.3 | 26.1 | 293.4 | 596.1 |
| 15% | 12% | 19% | 5% | 49% | 100% | |