Corporate bond / Financing
Convertible bond
Disclaimer
The information contained on the following web pages is not intended for United States, Australian, Canadian or Japanese residents or for persons who are physically located in the United States, Australia, Canada or Japan.
The securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. We do not intend to register the offering in the United States or conduct a public offering in the United States.
The information contained on the following web pages may not be distributed in or inside the United States, Australia, Canada or Japan.
The above legend is required by the securities laws of the United States, Australia, Canada and Japan. Please confirm that you have read it and accept its terms.
I have read the above legend and accept its terms.
Financing
As of June 30, 2021, our funding structure was composed of the following elements:
- Convertible bond of € 150 million with a sustainability component, coupon of 0.75%, initial conversion price of € 34.22 (40% premium) (maturing in January 2026)
- Syndicated loan of € 750 million with a sustainability component, including € 500 million as a credit facility and € 250 million as a guarantee facility (expiring July 2026)
- Four Schuldschein loans of a combined total of € 664 million, partially with a sustainability component (different terms, the last one expiring in 2031)
- Lease liabilities of € 102.8 million (June 30, 2021)
- Bilateral cash credit facilities of € 7.0 million (as of June 30, 2021)
Financial liabilities
| € million | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
| Bonds and bonded loan | 951.9 | 798.2 | 598.0 | 597.3 | 596.6 | 296.9 | 296.4 | 225.2 |
| Liabilities to banks | 0.0 | 0.4 | 1.0 | 1.9 | 35.5 | 43.2 | 118.4 | 41.9 |
| Leasing liabilities1 | 98.4 | 107.1 | 7.2 | 5.8 | 8.5 | 10.8 | 11.7 | 4.0 |
| Other financial liabilities | 7.1 | 7.3 | 7.8 | 8.3 | 13.9 | 0.0 | 0.0 | 0.0 |
| Accrued interests | 10.6 | 10.1 | 9.3 | 9.4 | 0.0 | 0.0 | 0.0 | 0.0 |
| Total | 1,068.0 | 923.1 | 623.3 | 622.6 | 654.5 | 350.9 | 426.5 | 271.1 |
| of which due within one year | 394.2 | 38.0 | 12.5 | 12.4 | 5.3 | 6.8 | 17.1 | 2.5 |
| 1 From 2019 onwards also including operating leases. |
Maturity structure of financial liabilities in € m
(As of June 30, 2021)
Overview in € billion
(As of June 30, 2021)
* Without leasing liabilities or accrued interest
Credit and guarantee lines
| € million | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | |
| Combined value | 1,601.2 | 1,474.9 | 1,072.1 | 963.6 | 1,026.5 | 1,034.9 | 1,111.2 | |
| Drawdown (guarantees) | 473.1 | 476.7 | 317.3 | 300.6 | 345.0 | 359.9 | 495.7 |
Ratings
There are no current corporate or bond ratings to assess our credit status. Dürr regularly publishes comprehensive key figures and a detailed outlook, thus ensuring a high level of visibility. The added value created by additional ratings is considered low, also given the costs involved.