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 406,124,000* | Fixed | 5.75% | 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 |
| SEK EMTN | XS1839710347 | 15-Jun-18 | 15-Jun-22 | SEK 450,000,000 | Floating | 8.75% + 3m SITBOR (0% floor) | Sweden | No |
*€6 million bond buybacks in Q4 2019.
The prospectus is dated 13 March 2020 relating to the €1,000,000,000 Euro Medium Term Note Programme.
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:
- HSBC Bank Plc
- VUB Banka
- CIB Bank
- Unicredit Bank S.A. (In Romania)
- Unicredit Bank Hungary Zrt. (In Hungary)
- Santander Bank
- Alir Bank
- Raifffeisenbank A.S. (In CZ Republic)
- OTP Bank Romania SA (In Romania)
- OTP Bank (In Hungary)
- K&H Bank Zrt.
- Československá Obchodní Banka, A.S
- Bnp Paribas Bank Polska S.A
- Banco Nacional De México, S.A., Integrante Del Grupo Financiero Banamex
- Citibank Europe Plc, Dublin - Romania Branch
- Citibank Europe Plc, Hungarian Branch
- Kdb Bank Európa Zrt.
- Gránit Bank
- Takarék Kereskedelmi Bank Zrt.
- Mbank
- Budapest Bank
- EXPOBANK CZ A.S.
Committed facilities
As at 31 December 2019 we had a total of c.£861.6 million of debt facilities in place.
| Bonds | 2020 £m | Jan-Mar 2021 £m | Apr - Dec 2021 £m |
2022 £m |
2023 £m |
2024 £m |
Total £m |
|---|---|---|---|---|---|---|---|
| Euro | - | 343.6 | - | - | - | - | 343.6 |
| Polish | 39.8 | - | - | - | - | - | 39.8 |
| Swedish | - | - | - | 36.3 | - | - | 36.3 |
| Retail | 44.1 | - | - | - | 78.1 | - | 122.2 |
| Total Bonds | 83.9 | 343.6 | - | 36.3 | 78.1 | - | 541.9 |
| Multi-Currency Bank Facilities | 2020 £m | Jan-Mar 2021 £m | Apr-Dec 2021 £m |
2022 £m |
2023 £m |
2024 £m |
Total £m |
| Term Loans | - | - | - | 34.5 | - | 27.6 | 62.1 |
| Revolving credit facilities | 87.6 | - | 81.4 | 64.9 | - | - | 233.9 |
| On demand facilities | 23.7 | - | - | - | - | - | 23.7 |
| Total bank facilites | 111.3 | - | 81.4 | 99.4 | - | 27.6 | 319.7 |
| Total facilities | 195.2 | 343.6 | 81.4 | 135.7 | 78.1 | 27.6 | 861.6 |
| 23% | 40% | 9% | 16% | 9% | 3% | 100% | |