Convertible bond / Financing
Convertible bond
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Financing
As of September 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 € 665 million, most of them with a sustainability component (different terms, the last one expiring in 2031)
- Lease liabilities of € 101.5 million (as of September 30, 2021)
- Bilateral cash credit facilities of € 33.0 million (as of September 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 September 30, 2021)
Credit facilities unutilized: €500 m maturing in 2024
Other financial liabilities (incl. real estate linked financing Teamtechnik) not included
Overview in € billion
(As of September 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.