Our funding sources comprise bonds, commercial paper and a revolving credit facility.
Debt maturity profile
This chart sets out the maturity profile of Coca‑Cola HBC’s long-term debt as of 30 June 2016.
* RCF (EURO). In June 2016 the banks approved the extension of the Revolving credit facility’s maturity for 1 more year, until June 2021. RCF is not utilized.
EMTN prospectus documents
- €385 million 4.25% 2016 bond ISIN: XS0466300257
- €800 million 2,375% 2020 bond ISIN: XS0944362812
- €600 million 1.875% 2024 bond ISIN: XS1377682676
On 2 March 2011, Coca‑Cola HBC Finance B.V. completed the successful offering of an additional EUR 300,000,000 4.25% Fixed Rate Notes to be consolidated and form a single series with the existing EUR 300,000,000 4.25% Fixed Rate Notes due 16 November 2016 issued on 16 November 2009. The additional Notes brought the total outstanding amount of the series to EUR 600,000,000. The proceeds of the issue were used to repay the outstanding balance of the EUR 500,000,000 4.375%.
On 18 June 2013, Coca‑Cola HBC Finance BV issued an additional amount of EUR 800,000,000 bond at 2,375% with maturity date on 18 June 2020.
In March 2016, Coca‑Cola HBC Finance BV issued an additional fixed rate bond of €600 million with a coupon of 1.875% due 11 November 2024. The proceeds from the bond issue will be mainly used for the repayment of existing bonds. In the same month, Coca‑Cola HBC Finance B.V announced a tender offer for its bonds maturing in November 2016, resulting in a reduction in their nominal value by approximately €214.6 million.
We have had an active €1.0bn commercial paper (CP) programme since March 2002, which we have been using to further diversify our short-term funding sources.
In October 2013, we established a new €1.0bn Euro-commercial paper programme in place of the old CP programme.
In September 2014 this Euro-commercial paper programme was further updated. The commercial paper notes may be issued either as non-interest bearing notes sold at a discount or as interest bearing notes at a fixed or at a floating rate.
All commercial paper issued under the programme must be repaid within 7 to 364 days.
Revolving credit facility
On 25 June 2015, we announced the replacement of the existing multi-currency revolving facility, which was set to expire in June 2016, with a new €500 million multi-currency revolving credit facility with a syndicate of eight banks. This has a tenor of 5 years, maturing in June 2020.
The facility can be used for general corporate purposes and carries a floating interest rate over EURIBOR and LIBOR.
No amounts have been drawn under the syndicated loan facility since inception.