Corporate bond / Financing
Corporate bond
Disclaimer
These websites contain information and documents, which are for information purposes only. They do not constitute an offer or an invitation to subscribe for or purchase any securities. The following information and documents are not directed at and may not be viewed by or distributed to any person residing in the United States of America.
By entering the following websites, you confirm that you are not a resident of the United States of America and that you will not distribute any of the information and documents contained therein to any person residing in the United States of America.
I AM NOT A RESIDENT OF THE UNITED STATES OF AMERICA AND AGREE WITH THE ABOVE TERMS AND CONDITIONS
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
Our funding structure is composed of the following instruments (as of December 31, 2020):
- Convertible bond of € 150 million with a sustainability component, coupon of 0.75%, (expiring 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 2024, renewable by two years)
- Three Schuldschein loans of a combined total of € 515 million, partially with a sustainability component (different terms, the last one expiring in 2031)
- Corporate bond of € 300 million (maturing in April 2021)
- Lease liabilities of € 98.4 million (as of December 31, 2020)
- Bilateral credit facilities of € 6.4 million (as of December 31, 2020)
- Other: Off-balance sheet financing, in particular forfaiting: € 3.6 m (as of December 31, 2020). In addition: Further money and capital markets instruments.
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 12/31/2020)
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.