Corporate bond / Financing

Corporate bond

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Financing

Our funding structure comprised the following elements for the 31th of March in 2019:

  • Corporate bond issued by Dürr AG for € 300 m (maturity: 2021)
  • Bonded loan issued by Dürr AG for € 300 m (maturity: 2021 - 2026)
  • Syndicated loan held by Dürr AG for € 465 m
  • Liabilities for leases in the amount of € 106.6 m
  • Bilateral credit facilities of a smaller volume

The syndicated loan facility is not likely to be drawn in 2019.

Financial liabilities

€ million Q1 2019 2018 2017 2016 2015 2014 2013 2012 2011
Bond and bonded loan 598.1 598.0 597.3 596.6 296.9 296.4 225.2 225.4 225.5
Liabilities to banks 0.0 1.0 1.9 35.5 43.2 118.4 41.9 56.5 57.2
Other financial liabilities 7.6 7.8 8.3 13.9 0.0 0.0 0.0 0.0 0.0
Leasing liabilities1 106.6 7.2 5.8 8.5 10.8 11.7 4.0 4.2 3.5
Accrued interests 12.5 9.3 9.4 0.0 0.0 0.0 0.0 0.0 0.0
Total 724.9 623.3 622.6 654.5 350.9 426.5 271.1 286.1 286.2
of which due within one year 41.8 12.5 12.4 5.3 6.8 17.1 2.5 14.8 13.3
1 From 2019 onwards also including operating leases.

Maturity Structure of Financial Liabilities in € m

(as of 03/31/2019)

  • short-term: pending 1 year
  • middle-term: >1 and <= 5 years
  • long-term: across 5 years

Credit and guarantee lines

€ million 03/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015 12/31/2014
Combined value 1,092.2 1,072.1 963.6 1,026.5 1,034.9 1,111.2
Drawdown (guarantees) 325.2 317.3 300.6 345.0 359.9 495.7

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.

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