Bonds

A fundamental funding policy guideline is to sustain the group's financial independence and ensure proper access to financial markets. Therefore we have a €2 bn Commercial Paper Programme and Multi-Currency as well €5 bn Debt Issuance Programme in place.

Debt Issuance Programme (DIP)

In Year 2000 we have launched a Debt Issuance Programme (DIP) for the long-term funding needs. The original available volume was increased from €3 billion to €5 billion in 2003 and to €6 billion in 2010 and decreased to €5 billion again in February 2018. In the framework of this programme, bonds with maturities of up to 30 years can be issued in any currency.

€5 bn Debt Issuance Programme

Utilisation as per 30 September 2017: € 2.451 billion

Outstanding DIP Issues (selection)

ISIN Code Currency Amount Interest Basis Issue Date Maturity Date Final Terms
XS1203941775 EUR 600mn 1.50% 19/03/2015 19/03/2025 pdf (477 KB)
DE000A13R8M3 EUR 500mn 1.375% 28/10/2014 28/10/2021 pdf (233 KB)
XS0863116231 EUR 500mn 2.25% 11/12/2012 11/05/2018 pdf (226 KB)
DE 000 A1MA9K8 EUR 500mn 3.375% 01/03/2012 01/03/2019 pdf (314 KB)
XS1788515788  EUR 500mn 1,125% 06/03/2018 06/03/2023 pdf (174 KB)

For short and medium-term financing, METRO AG uses regular issuance programmes customary in capital markets such as the Euro Commercial Paper Programme launched in 1999.

€2 bn Euro Commercial Paper Programme

Liquidity back-up

METRO AG has access to an appropriate liquidity reserve at all times so METRO will not have its financial flexibility impaired even in case of the occurrence of unexpected situations which might have a negative financial impact.

  • Syndicated Loan / €0.900 bn / 2014 - 2021
  • Syndicated Loan / €0.850 bn / 2012 - 2023 +1
  • Bilateral credit lines €0.250 bn with multi-year character

Status: 12 July 2017

Debt maturity profile of METRO GROUP as of 30/09/2016

Status: 06 March 2018

A well balanced debt repayment profile, both in maturities and instruments, is a key element in providing financial independence and flexibility.

In line with the hive-down and spin-off of the wholesale trading and food retail trade activities all liabilities and rights arising from syndicated credit facilities, bonded loans, bilateral credits, the bonds issued under the Debt Issuance Programme as well as the German Commercial Paper Programme are transferred to the METRO AG, Düsseldorf. Under the UmwG, the consent of third parties is not required for such transfer. The same applies to the guarantees provided as security for the bonds issued by METRO Finance B.V. Pursuant to § 133 para. 1 and para. 3 UmwG, METRO AG is jointly and severally liable for the fulfilment of liabilities which are transferred to METRO AG in the course of the hive-down, if they become due within five years from the announcement of the entry of the hive-down in the commercial register of METRO AG and based on them any claims are awarded against METRO AG by a court of law or in any other manner described in § 133 UmwG.

For more information see pages 111-115 of the Demerger report of the Management Boards of METRO AG and of METRO AG dated 13 December 2016. This and further documents and information about the hive-down and spin-off are available on the page Investor Relations - Publications.