Financing
Our funding structure comprised the following elements for the 31th of December in 2017:
- Corporate bond issued by Dürr AG for € 300 million (maturity: 2021)
- Bonded loan issued by Dürr AG for € 300 million (maturity: 2021 - 2026)
- Syndicated loan held by Dürr AG for € 465 million
- Bilateral credit facilities of a smaller volume and liabilities from finance leases.
In addition to money and capital market instruments, we are also able to utilize off-balance-sheet financing instruments such as factoring programs and operating leases (89.6 € m).
The syndicated loan facility is not likely to be drawn in 2018.
Financial liabilities
| € million | 09/30/2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
| Bond and bonded loan | 597.8 | 597.3 | 596.6 | 296.9 | 296.4 | 225.2 | 225.4 | 225.5 | 225.6 |
| Liabilities to banks | 1.9 | 1.9 | 35.5 | 43.2 | 118.4 | 41.9 | 56.5 | 57.2 | 2.0 |
| Other financial liabilities | 7.9 | 8.3 | 13.9 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 |
| Liabilities under finance leases | 5.1 | 5.8 | 8.5 | 10.8 | 11.7 | 4.0 | 4.2 | 3.5 | 3.6 |
| Total | 612.8 | 613.2 | 654.5 | 350.9 | 426.5 | 271.1 | 286.1 | 286.2 | 232.3 |
| of which due within one year | 3.6 | 3.4 | 5.3 | 6.8 | 17.1 | 2.5 | 14.8 | 13.3 | 1.8 |
Maturity Structure of Financial Liabilities in m €
(as of 09/30/2018)
- short-term: pending 1 year
- middle-term: >1 and <= 5 years
- long-term: across 5 years
Credit and guarantee lines
| € million | 09/30/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | |
| Combined value | 997.8 | 963.6 | 1,026.5 | 1,034.9 | 1,111.2 | |
| Drawdown | 304.4 | 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.