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 31 December 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
- €800 million 2,375% 2020 bond ISIN: XS0944362812
- €600 million 1.875% 2024 bond ISIN: XS1377682676
On 18 June 2013, Coca‑Cola HBC Finance BV issued 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 were 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. The remaining amount of the bond, €385.4 million, was fully repaid on maturity, November 2016.
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. In June 2016 the banks approved the extension of the Revolving credit facility’s maturity for 1 more year, until June 2021.
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.