Financial position

Situation 30/09/2016

End September 2016, the Proximus net financial debt stood at € 1,711 million.
 

 


Funding

Situation 30/09/2016

  Currency Facility Amount Outstanding Amount
Capital markets funding
Bonds EMTN EUR 3,500M EUR 2,430M EUR
Bonds YEN YEN 1.5B YEN 1.5B YEN
Commercial paper EUR 1,000M EUR 0 EUR
Credit facilities
Syndicated bank facilities EUR 550M EUR 0 EUR
Overdraft facilities EUR 110M EUR 0 EUR

Debt maturity schedule on 30 September 2016 (in m€) 


Capital markets funding

Bonds EMTN

Proximus (previously Belgacom) has issued the following unsecured bonds under its 3.500M EUR Euro Medium Term Note (EMTN) Program (updated 3 September 2015).

 

Amount Tenor Maturity Coupon ISIN
675M EUR 10 years 23 nov 2016 4.375% BE0932180103
405M EUR 7 years 7 feb 2018 3.875% BE6215434620
100M EUR 10 years 22 may 2023 2.256% BE6252911977
600M EUR 10 years 4 april 2024 2.375% BE6265262327
500M EUR    10 years  1 oct 2025 1,875%  BE0002237064
150M EUR 15 years 20 march 2028 3.19% BE6251142749

Bonds Yen

On March 27th of 2015, 85% of JPY 10 billion Note due in December 2026 have been bought back with settlement on April 1st 2015.  The remaining 15% (EUR 11 million) will mature in 2026.

Proximus (previously Belgacom) has issued the following Yen private placements.

Amount Tenor Maturity Coupon ISIN
10B YEN 20 years 6 nov 2015 - BE006150594
10B YEN 20 years 11 nov 2015 - BE006152643
10B YEN 30 years 16 dec 2026 - BE007199961

Commercial Paper Program

Proximus has established a commercial paper program for the issue of short term treasury notes (thesauriebewijzen/billets de trésorie). The program enables Proximus to issue commercial papers with a tenor of maximum 12 months within a EUR 1 billion program. The commercial paper program is a complement to Proximus’ core funding.


Credit facilities

Syndicated bank facility

Proximus (previously Belgacom) has 2 standby credit facilities; both are revolvers and are provided by a wide range of local and international banks. These facilities also serve as back-up against the refinancing risk related to any issued commercial papers. 

Amount Tenor Maturity
150M EUR 5 years June 2019
400M EUR 5 years Sep 2017

Overdraft facilities

Proximus has overdraft facilities with local and international banks for a total amount of 260 M EUR. Typically, these facilities are extended on a yearly or bi-yearly basis.


Credit rating

Situation 30/09/2016

  Moody’s Standard & Poor’s
Long term rating A1 A
Outlook Stable Stable
Last change 21/01/2010 2/12/2011
Short term rating P-1 A-1