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 2019.
* In May 2019 €237m out of €800m outstanding bond maturing in June 2020 have been purchased back via a Tender offer.
EMTN prospectus documents
- €563 million 2,375% 2020 bond ISIN: XS0944362812
- €600 million 1.875% 2024 bond ISIN: XS1377682676
- €700 million 1.000% 2027 bond ISIN: XS1995781546
- €500 million 0.625% 2029 bond ISIN: XS2082345955
- €600 million 1.625% 2031 bond ISIN: XS1995795504
In June 2013, the Issuer issued €800m bond with a coupon of 2,375% due 18 June 2020. In May 2019 the Issuer purchased back €237m.
In March 2016, the Issuer issued an additional fixed rate bond of €600m with a coupon of 1.875% due 11 November 2024.
In May 2019, the Issuer issued 2 new tranches of fixed rate bond under its increased €5bn Euro Medium-Term Note (EMTN) programme: €700m with a coupon of 1.000% due 14 May 2027 and €600m with a coupon of 1.625% due 14 May 2031.
In November 2019, the Issuer issued an additional fixed rate bond of €500m with a coupon of 0.625% due 21 November 2029.
We have had an active €1bn 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 €1bn Euro Commercial Paper (ECP) programme in place of the old CP programme.
The ECP programme was last updated in May 2017. The ECP 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 notes issued under the ECP programme must be repaid within 7 to 364 days.
Revolving credit facility
In April 2019 the €500m Syndicated Multi-Currency Revolving Credit Facility, which was set to expire in June 2021, has been increased to €800m.
The facility has a tenor of 5 years, maturing in April 2024 with options to extend the maturity for 1 or 2 more years. The amended and restated facility includes sustainability features.
The facility can be used for general corporate purposes and carries a floating interest rate over EURIBOR or LIBOR.