Debt and financing

Gross financial debt as of 31/12/2022 (€ million)


Total as of 31/12/2022: € 2,105 million excl. IFRS 16 (as per Senior Facility Agreement)

Mid-term and long-term debt facilities as of 31/12/2022

(1) At current year-end leverage ratio
(2) Commitment and financial fees

Cost of bank facilities of the sustainability-linked refinancing 

The table below presents the costs of the bank facilities put in place in October 2022 (€600 million term loan and €600 million revolving credit facility). These costs are margins added to EURIBOR (or any other applicable base rate with a floor at zero per cent per annum) and vary depending on year-end leverage ratio 1.

1) Excluding IFRS 16

2) Undrawn RCF 

In addition, (i) a customary Sustainability-linked adjustment will provide for a maximum discount or premium of 5 basis points (ii) a utilization fee ranging from 0.10% p.a. to 0.40% p.a. applies to the revolving credit facility and (iii) an additional margin of 20 basis points for drawings in USD.

Credit Ratings

March 15th, 2017 Bond offering

June 18th, 2019 Bond offering

Sustainability-Linked Financing Framework