Debt info

EMTN GUARANTEED DEBT ISSUANCE PROGRAMME


BASE PROSPECTUS

PDF File

-

DEBT PROFILE

 
JDE Peet’s’ debt consists of bank borrowings, bonds and leases.

Under its newly established EUR 5 billion Guaranteed Debt Issuance Programme, JDE Peet’s issued EUR 2 billion aggregate principal of bonds on 16 June 2021. The proceeds were used to re-finance existing bank debt facilities at attractive interest rates.

The bonds comprise of the following three series:

ISIN Number

Issue Date

Maturity Date

Amount (M)

Coupon rate %

Currency

Final terms

DE0001102382

June 16 2021

January 16 2026

750

0.000%

EUR

pdf.png

DE0001102457

June 16 2021

January 16 2029

750

0.500%

EUR

pdf.png

DE0001102531

June 16 2021

June 16 2033

500

1.125%

EUR

pdf.png


The bonds began trading on the EuroMTF market of the Luxembourg Stock Exchange on 16 June 2021.

BANK BORROWINGS

On 30 March 2021, JDE Peet’s refinanced its term loans under a single capital structure. Following the issuance of bonds on 16 June 2021, the amount of term loans outstanding is EUR 3 billion.

The refinancing was done at attractive terms with no financial covenants and with investment grade margins. Furthermore, the new facilities are linked to JDE Peet’s’ sustainability ambitions, namely the Common Grounds and Minimised Footprint programs.

JDE Peet’s also benefits from a committed revolving credit facility, which was signed in 2021 and will expire in 2026, with the option to extend until 2028. The EUR 1.5 billion facility is currently undrawn, and can be used for general purposes.

Debt maturities and outstanding amounts can be found in the graph below.

DEBT-NEW.PNG

Since 2019, JDE Peet’s has significantly reduced its debt level and leverage as shown in the chart below. The company remains committed to reducing leverage to below 3x net debt to adjusted EBITDA, and to work towards achieving optimal leverage of around 2.5x adjusted EBITDA.

DEBT-NEW2.PNG

 

Credit Ratings

An overview of our current credit ratings can be found in the table below.

Rating agency

Long-term rating

Outlook

Moody's Baa3 Stable
Fitch BBB- Stable
Standard & Poor’s BBB- Stable