Bond & Credit Information
The following graph shows the current debt maturity schedule, as of April 8, 2016, in € millions:
On April 6 2016, a GBP250 million bond was repaid and a €500 million bond has been issued on April 8 2016. These transactions have improved the overall debt profile of AkzoNobel, further reducing future refinancing risk and improving its maturity profile.
€1.8 billion syndicated revolving credit facility
|Key terms & conditions|
|Borrower||Akzo Nobel NV|
|Facility amount||€ 1.8 billion|
|Purpose||General corporate purposes|
|Financial ratio covenants||None|
In addition to the €1.8 billion syndicated revolving credit facility, AkzoNobel has a €1.5 & $3 billion commercial paper program in place, which can only be used to the extent that the equivalent portion of the revolving credit facility is not used.
AkzoNobel is committed to maintaining a strong investment grade rating. Regular review meetings are held between rating agencies and AkzoNobel senior management.
See table for present rating and outlook:
|Rating agency||Long-term rating||Outlook|
|Standard & Poor's2||BBB+||stable|
1 Rating affirmed on November 25, 2015
2 Rating affirmed on October 13, 2015